Tax Week: Changes slated for your shares
7/1/202614 min
Do you own shares or ETFs? The proposed CGT changes could affect your investments.
In this episode Carrington Clarke and Emily Stewart explain CGT tax changes in store for Australians who own EFTs and direct shares. Listen in to hear how the system used to work, how the new system is set up, and when the switchover will go into effect.
Be sure to check out Emily's ABC Newsletter, Your Money Explained.
Got a burning business question?
We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at abcbusinessdaily@abc.net.au and we'll attempt to answer it.
Clips
Transcript preview
First 90 secondsEmily Stewart· Guest0:00
[upbeat music] ABC Listen. Podcasts, radio, news, music and more.
Carrington Clarke· Host0:05
[upbeat music] G'day, I'm Carrington Clark, and welcome to Tax Week with ABC Business Daily. As the financial year comes to a close, we wanted to bring you a special bonus series, zooming in on how these policies might affect you right now and, of course, in the financial years ahead. As always, I'm joined by ABC finance reporter Emily Stewart, also known as Sensible Emily, editor of the Your Money Explained newsletter. Hello, Emily.
Emily Stewart· Guest0:35
Thank you, Carrington. Lots to talk about today.
Carrington Clarke· Host0:38
A lot to talk about. Now, we're wanting to dive deep into the world of capital gains tax and the capital gains tax discount, particularly with what it means for shares. And now, it, there's been a lot of talk about this. There's been a contentious argument. The CGT changes that the government brought in, most of the attention was about property, but of course, the changes also affect other types of investment, including in shares. So the big change was getting rid of the 50% tax discount and once again moving back to a system where it's linked to the inflation of the years that you've held that, uh, particular asset. Now, must put the disclaimer out there, this is not financial advice.