Jun 19, 2026 – 2.06pmThe crystal-clear tax rule that informed investment portfolios for a generation was smashed on May 12, creating significant implications for anyone considering what they should invest in outside of superannuation.When an investor buys an asset, they’re chasing two possible outcomes: either growth in capital value, meaning someone will want to buy it later at a higher price, or income.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Andrew HobbsWealth reporterAndrew Hobbs covers self-managed superannuation funds (SMSFs), financial planning, retirement, inheritance, tax, personal finance and, sometimes, the Perth Bears. He has been a financial journalist for 30 years, previously at Bloomberg and AAP.Fetching latest articles