CGT Questions

What are CGT Assets?
Capital Gains Tax on Real Estate
Did a CGT Event happen?
Is there a gain or a loss?
Are there a CGT exemptions?
CGT Main Residence Exemption
Timing Issues
Main Residence Usage
Are there any CGT concessions?
Are there any rollover provisions?
How do I calculate capital gains tax?
Capital Gains Tax Cost Base

Topics

CGT Rulings
Self Managed Super Funds

Australia

The Buzz car insurance

Capital Gains Tax Calculator

  • Determine your capital proceeds i.e. the money you received from the sale.
  • Determine your cost base. What is my cost base?
  • capital proceeds - cost base = gross capital gain
  • Apply any discounts or concessions that may be available (e.g. the 50% CGT Discount)
  • gross capital gain x CGT discount (if applicable) = net capital gain
  • Add your net capital gain to your taxable income, and determine how much you pay with a tax calculator.

To work out your capital gain, you need to know your taxable income first. Contact Tax Advice Online and you will be able to get a definitive answer on your capital gains tax liability.