Overview
Geoff Francis, a former senior tax official at Treasury, caused a stir when he honed in on a highly technical but important point about the Albanese government’s changes to the capital gains tax discount, warning they could mean share investors pay tax rates of up to 60 per cent.
Australia hasn’t had an income tax rate that high since the 1980s, so Francis’ comments grabbed attention, particularly when coupled with the comments from his brother and investor Derek Francis who declared that shares were now “uninvestible” outside of superannuation.
Source: https://www.afr.com/policy/economy/do-labor-s-tax-changes-make-shares-uninvestable-we-ran-the-numbers-20260527-p601ct