"The Government will remove the 50% capital gains tax (CGT) discount for non-residents on capital gains accrued after 7.30pm on 8 May 2012."
This is noteworthy since it makes investing in Australian assets less attractive 'moving forward'* than was previously the case for non-resident investors.
The strong Australian dollar has had a negative impact on asset values too.
The Aussie share market has certainly not seen the same 'bounce' that has been seen in the US through 2010 and 2011, and it has been said that we may need to see the dollar drop back to 90 cents to entice overseas property investors back into the Australian market too.
The only confusing thing about the budget policy change was the reaction of online commentators.
A chorus of pundits noted that the removal of the discount was "buried deep in the Federal budget...", "carefully hidden in the budget...", "tucked away in the budget...".
I suspect it was just one of those things that someone said, and then everyone assumed to be the case without bothering to read the budget themselves.
I'm not quite sure how Swanny could have made it much more explicit? Green highlighter pen, maybe?
Swan's budget is due to deliver a welcome surplus for the Australian economy.
*A favourite Gillard-ism