Your watches will almost certainly be taxed more tomorrow..

Added: 2026-05-17

[00:00:00]The Australian government is coming after watch collectors and nobody is talking about it. Tomorrow night the federal government will be launching their new budget and it's almost guaranteed that there will be changes to the capital gains discounts that we see today. Currently assets including luxury watches, if you own them for 12 months, get a 50% capital gains discount. But the changes are suggesting that that's going to be reduced to either 25 to 33% or we'll be reverting back to the pre-1999 indexation method of CGT calculation.

[00:00:33]So, what does that mean for watch collectors? Well, gray market prices might rise because people are not wanting to sell their watches and pay extra taxes or they might decide to sell those watches overseas, which moves the money out of Australia where they don't have to pay the taxes on them and keeps that money outside of the Australian economy. Do you think that this is a good thing or do you think it's just another easy cash grab from the government?