Young Australians investing in exchange-traded funds will be negatively affected by the federal government’s extension of capital gains tax changes to shares, say critics, even though over-65s are the industry’s fastest-growing group of retail clients.
CGT changes flagged in last week’s federal budget will replace the 50 per cent discount on capital gains with an inflation-indexation model and impose a minimum tax rate of 30 per cent for shares and property.
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