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Why selling your shares is about to become more taxing
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If you think about some of the richest people in the world, the majority of them have one thing in common. Their wealth, in all its gross excess, is not just sitting in their bank account or in big dollar-sign bags in a bank vault somewhere. It’s almost all tied up in shares and other investments, which they would have to sell if they actually wanted to buy a new yacht or something.
Overlooked capital gains rule could see Labor target $372b worth of super assets
New analysis has found the Albanese government’s capital gains rule changes could target about $372 billion worth of assets, forcing superannuants to cough up an extra $55 million a year.
New analysis has found Labor's capital gains rule changes could target about $372 billion worth of assets, forcing superannuants to cough up an extra $55 million a year collectively.
Analysis by the Financial Services Council (FSC), published by The Australian, found Labor’s budget overhaul restricts how managed investment trusts can offset capital gains and losses.
This means millions of Australians with investments in this type of asset could be forced to pay more at tax time.
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