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The tax reform coming for Birkin bags, fancy watches and crypto

The Sydney Morning Herald·Shane Wright·25 days ago
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Updated May 10, 2026 — 4:49pm , first published 1:55pm Investors with money in everything from cryptocurrencies to wine and even high-end handbags could be caught in planned changes to capital gains tax to be unveiled by Treasurer Jim Chalmers on budget night. As Chalmers promised the budget would include incentives for the start-up sector and venture capital, investors are increasingly concerned about how any change to CGT will affect returns on assets that have become increasingly attractive to younger Australians. The original Birkin bag created by Hermès in 1984, was recently sold at auction for $15.3 million. AP As this masthead revealed last month , Chalmers will return to the way capital gains were taxed before changes made by the Howard government in 1999. Before 1999, the value of assets was adjusted for actual inflation, with the CGT applied only to the “real” jump in value.…

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