Taxing unrealized gains is an insanely bad idea đ
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On July 1, it looks likely that Australia will pass the first tax on "unrealized capital gains" for people with over 3MM AUD in assets (about 2MM USD).
- this includes Bitcoin.
- if you have Bitcoin and it goes up between 2025 and 2026, you owe the Government 15% of the gains.
- the ability to carry forward losses is not explicitly defined.
If you own shares (in something like MSTR) this would apply as well.
A similar proposal was discussed by our previous administration.
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