Australia’s Unrealized Gains Tax Will Be a Lesson in Economic Suicide
21st May 2025
Taxing unrealized gains is equal parts outright f*cking mathematically insane and cut-and-dry authoritarian. And while I’m appalled by the policy itself, there’s a perverse part of me that’s almost glad it’s happening in Australia first—because the disastrous results will be on full display for the world to see.
Starting in July 2025, the Albanese government is set to debut its latest economic masterstroke: taxing imaginary money. That’s right—if you’ve got more than $3 million sitting in your superannuation, not only will you get slapped with a 30% tax, but it doesn’t even matter if you actually made any money.
Didn’t sell anything? Didn’t cash out? Never saw a cent? Tough luck—Big Brother took a peek at your account, saw some numbers went up, and decided you owe them a slice of your hypothetical success.