From art to jewellery, here’s how the new CGT changes will cost you

June 27, 2026 — 3:01am

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Where did our profit prospects land after all the controversy about capital gains tax changes? Somewhere quite different from originally expected – thanks to cave ins and a surprise last-minute carve out.

That painting you think might be worth something? Or maybe your record collection that is so epic as to be appealing to someone?

Well, sell those and the profits may well be caught and taxed more heavily. But inherited assets and divorce settlements appear to have earned unexpected protection – to be legislated retrospectively.

Here is how the new CGT rules affect your every asset, and what you can do about it.

Property: Let’s be clear, firstly, that your home is not affected. Your principal place of residence is now – and stays – exempt from CGT. But any gains in investment properties from the application date of new rules on July 1, 2027 will be taxed differently.

Instead of the 50 per cent discount that applies until then on gains (you simply get to halve it), there will be a new calculation: gains will be reduced only by the inflation rate in each year of ownership.

The big decision most people have in the next year is to sell or hold because changes are not grandfathered.

What’s more, the capital gains tax from there – on any gains made after July 1, 2027 – will be a minimum 30 per cent.........

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