Jan bought a house worth $1m. Here’s how the CGT changes affect her (opens in new tab)

See how Labor’s new scheme works – and try our calculator to see how it affects the tax on different assetsLabor’s change to the capital gains tax discount is one of the biggest items in the budget – but it’s also one of the most complicated.CGT is paid when an asset is sold but, since 1999, owners have had a CGT discount. Under the changes, from 1 July 2027, the CGT discount will be replaced with a new cost-base indexation system. Continue reading...