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SIAA warns proposed CGT changes could undermine investor confidence

17 Jun 2026

Maria Lykouras

SIAA issues open letter to the Senate Economics Legislation Committee Inquiry into the Treasury Laws Amendment (Tax Reform No 1) Bill and Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026

The Stockbrokers and Investment Advisers Association (SIAA), the professional body for the stockbroking and investment advice industry, is concerned that the proposed capital gains tax (CGT) changes contained in Schedule 1 of the Treasury Laws Amendment (Tax Reform No.1) Bill and the associated Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026 (the Bill) will have significant unintended consequences for Australian investors and capital markets.

Australia’s tax settings should support long-term wealth creation for everyday Australians and a capital markets ecosystem that funds Australian businesses and drives economic growth and innovation. Our key concerns are the the proposed CGT changes work against these objectives and will:

  • Reduce investor confidence and participation in markets outside superannuation thereby cutting off an accessible path to long-term wealth creation for everyday Australians.
  • Have a disproportionate impact on those with lower incomes such as women and younger investors who are investing their after-tax savings from a smaller base and will be subject to the 30% minimum capital gains tax.
  • Increase complexity and cost for investors who will need professional advice to understand the tax they will have to pay on sales of their securities.
  • Make it harder to attract patient capital into sectors such as biotech, technology and resources exploration, which have historically relied heavily on retail investor support.

We are particularly concerned about the impact the CGT changes will have on younger Australians who have invested in shares and ETFs in an effort to build wealth and save for their first home.

Stakeholders are being given too short a time to respond to these significant changes to CGT. We call on the government to split the CGT changes from the Bill to allow more time for considered, broad and meaningful consultation with stakeholders on the impact that they will have on Australian investors and capital markets.

By Maria Lykouras, CEO

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