Australia Proposes CGT Overhaul Tripling Long-Term Crypto Tax Burden

Australia's Labor government proposed eliminating the 50% capital gains tax discount for assets held over 12 months, replacing it with full inflation-adjusted gains taxation and a minimum 30% rate on long-term crypto holdings starting July 2027—potentially tripling the burden for investors. This escalates global tax pressures following South Korea's May 11 confirmation of a 20-22% virtual asset tax from January 1, 2026, on gains over 2.5 million KRW (~$1,800), rejecting deferral despite earlier 2027 delay pushes from May 4 and opposition calls. Amid a 1.98% Kimchi Premium with BTC above $80K, May 12 analysts predicted Korean retail rotation from Samsung stocks to Bitcoin, boosting liquidity. Germany's 2027 crypto tax exemption end adds to the trend.