Any Australians here? Are you trying to make any FIRE planning changes ahead of the capital gains tax increases?
I'm a US/AU dual so I have additional taxation complexity (such as, Superannuation contributions are fiscally punitive for me in the US tax system). I own no property and have focused all my savings into shares (in addition to getting RSUs from my job as a decent part of my income sourcing). I was hoping to FIRE in the next 5 years.
However a lot of the speculation about the removal of the CGT discount for investment property (which I support, housing should not be speculative to the extent it has become speculative in Australia) is that they will also remove it for any investments, including stocks--for the US folks reading, this would be equivalent to the IRS applying the short term capital gains rate to everything, and removing the long term rate. This would significantly impact my decades of tax planning for FIRE which assume a lower rate at sale for long term held funds. Due to having been in a role for a number of years, subject to extreme trading restrictions, I'm sitting on a number of older RSUs (about $750k worth), and was considering selling those in the next few years to help fund FIRE. But now I'm just reconsidering my entire investment strategy if I have to pay much more in tax than I'd planned, and it's doing my head in.
Is anyone in a similar boat, how are you adjusting (or not) your strategy?