Capital Gains Tax Concessions

There are a number of exemptions and concessions when it comes to capital gains tax in Australia.

Capital Gains Tax Discount

There is a capital gains tax discount for individuals, trusts and super funds who hold a CGT asset for one year before selling.

The discount available for individual taxpayers is 50%. This means that you only have to include half of your actual capital gain in your taxable income if you held the asset for at least one year.

For super funds, the discount is 1/3 of the gain, and the CGT asset must also be held for one year.

For trusts, the discount depends on the beneficiary of the gain. If the beneficiary of the gain is an individual, then the 50% discount on the capital gain distributed is available.

Companies are not entitled to any capital gains tax discounts.

Small Business Concession

There is a 50% small business concession available to some small businesses. To find out if you're eligible, you should talk to you tax agent.