CGT money movement: Investors are already changing portfolios and asking very different questions
Announcement posted by Invigorate PR 13 Jul 2026
While most Australians have been focused on what the Federal Government's capital gains tax changes will mean for property investors, one leading financial adviser warns the share market has already begun responding and the biggest shifts may still be ahead.
Alex Jamieson, founder of Jamieson Private Wealth, said investors are quietly repositioning portfolios as they prepare for what could become one of the most significant changes to Australia's investment landscape in decades.
"The market doesn't wait for legislation to fully play out. It starts pricing in future behaviour well before most people realise what's happening," Jamieson said.
"We're entering a period where investors are asking very different questions about where they want their money to be."
Money could flow out of property and into shares
Jamieson believes the government's changes to capital gains tax, together with uncertainty surrounding the medium to longer term impact on property, are encouraging many investors to reassess the role of residential property in their portfolios.
"For decades, property has been Australia's favourite investment. That may be changing," he said.
"If investors are concerned that future returns from property will be more heavily taxed, capital naturally begins looking elsewhere. This is a trend we are already seeing at auctions across the country with lower clearance rates."
He said listed shares, exchange traded funds (ETFs), infrastructure, healthcare and global technology investments are increasingly attracting attention.
"The share market offers liquidity, diversification and simplicity. Investors can build significant wealth without worrying about tenants, maintenance, insurance or ongoing compliance."
The next six months could reshape investment markets
Jamieson said the second half of the year could prove highly volatile as investors respond to changing tax settings and governments begin dealing with the unintended consequences.
"We're likely to see more policy clarification, amendments and perhaps further concessions as practical issues emerge," he said.
"Markets don't like uncertainty, but they do reward businesses positioned to benefit from structural change."
He believes sectors likely to benefit include financial services, funds management, ETF providers and companies exposed to long-term global growth themes.
Questions are changing
Jamieson said the conversations taking place in his office today are very different from those of just 12 months ago.
"People are no longer asking simply which shares to buy," Jamieson said.
"They're asking whether property still deserves the same weighting in their portfolio, whether international markets offer better opportunities and how they should position themselves if Australia's investment landscape changes permanently."
He said some enquiries have become even more dramatic.
"We're even being asked whether moving overseas for part of the year changes tax outcomes. That demonstrates the level of uncertainty and concern people are feeling. Effectively people are looking at moving investment offshore and changing their living status to help themselves and their family get ahead."
Volatility creates opportunity
Despite the uncertainty, Jamieson believes investors should avoid emotional or panic decision-making.
"Periods like this often create outstanding long-term investment opportunities for disciplined investors," he said.
"The biggest mistake is reacting to headlines instead of building a strategy based on your own circumstances."
He said diversification will become increasingly important over the next 12 months.
"Rather than trying to predict every political announcement, investors should focus on building portfolios that can perform under a range of different scenarios."
What should Australians expect?
Jamieson expects continued market volatility as tax reforms, housing policy and global economic conditions continue to evolve.
"I think we're entering one of the most interesting investment periods Australia has seen in years," he said.
"There will be winners and losers, but those who understand the changing landscape rather than fear it are likely to be in the strongest position.
"The headlines around CGT are only the beginning. The real story is how Australian investors respond and I believe we're only just starting to see that unfold."
About Alex Jamieson
Alex Jamieson is one of Australia's most trusted and respected financial advisers and the founder of Jamieson Private Wealth, a Melbourne-based advisory firm delivering sophisticated, personalised financial advice to individuals, families and business owners.
With decades of experience across financial planning, investing and retirement strategy, Alex is known for combining deep technical expertise with a disciplined, long-term approach to wealth creation and protection. His advice is grounded in rigorous research, responsible investing principles and the intelligent use of technology to monitor local and global markets for opportunities, risks and emerging trends.
Alex holds his own Australian Financial Services Licence (AFSL) and is widely regarded for his integrity, clarity and commitment to helping clients make confident, informed financial decisions. He specialises in retirement planning, investment management, tax optimisation, estate planning and risk management, tailoring every strategy to reflect each client's goals, values and stage of life.
Jamieson Private Wealth represents the evolution of Alex's advisory career delivering next-generation wealth advice built on experience, insight and trust.