Women investors confused by proposed CGT changes
Research from Global X ETFs shows that women investors are over twice as likely as men to be uncertain about the impact of the federal government’s proposed capital gains tax (CGT) reforms. In a poll of more than 2,000 current and potential investors, 18% of female participants investing outside superannuation indicated they did not grasp the changes, versus 8% of male respondents. The results have spurred demands for more transparent policy messaging, with Global X cautioning that the complexity may widen the current gender disparity in investment understanding.
Jessica Leung, portfolio manager at Global X ETFs Australia, stated that the May federal budget’s changes pose an extra challenge for women. She noted, ‘The tax adjustments from the May Federal Budget disproportionately affect women. The CGT modifications are especially confusing, adding another hurdle.’ Leung emphasized, ‘This policy is particularly relevant for women, who constitute a larger portion of lower-income earners. From July 2027, some Australians could face a 14 per cent marginal tax rate on their employment income but a minimum 30 per cent tax rate on their real capital gains, that’s more than twice the rate,’ she said.
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While women reported greater confusion, the survey found the potential deterrent effect on investment extended across both genders. One in four women said they would be less likely to invest in shares or ETFs when the changes take effect on 1 July 2027, compared with 28 per cent of men. Just 9 per cent of each group said they would be more likely to invest. The policy findings accompanied a broader knowledge gap identified in the GXIQ Investor Scorecard 2026 report, with women accounting for 65 per cent of investors in the Beginner category, which represented the lowest level of investment knowledge among those assessed.
Leung argued that investors shouldn’t need a tax degree to work out whether a change affects them. She urged the government and financial services industry to explain complex policies in plain language, without removing the detail people need to make informed choices.
