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.
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