Column: Lots of complaining about California's tax system. Time to fix it
California faces budget deficits due to reliance on volatile capital gains tax. Politicians need to address this issue to stabilize state finances. [ more ]
Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain | CBC News
The Canadian business community criticizes the government's budget for expanding the capital gains tax, potentially damaging productivity and entrepreneurship. [ more ]
Australia Updates its Capital Gains Tax Guidance to Include Wrapped Tokens and DeFi
Australia's tax authority has clarified that its capital gains tax on crypto products applies to wrapped tokens and token interactions with decentralized lending protocols.
The updated guidance includes reporting capital gains and losses for the exchange of crypto assets, including wrapped tokens and participation in DeFi lending and borrowing arrangements.
The move has received criticism from the crypto industry, with concerns about the taxation of purely technological functions and potential implications for token transfers to centralized exchanges. [ more ]