Labor’s capital gains tax changes are expected to hit Australian small caps and growth stocks that are popular among retail investors and could even deter technology companies and start-ups from listing on the local sharemarket in favour of overseas stock exchanges, analysts warn.
The federal budget removed the 50 per cent discount on capital gains for individuals, partnerships and trusts from July 1 next year, and will replace it with the pre-1999 system of inflation indexation. Superannuation funds will retain their existing one-third discount on capital gains.
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