![]() ![]() You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products). © Australian Taxation Office for the Commonwealth of Australia If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice. Make sure you have the information for the right year before making decisions based on that information. Some of the information on this website applies to a specific financial year. If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take. We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations. ![]() How to calculate capital gains tax (CGT) on your assets, assets that are affected, and the CGT discount. When and how to get your assets valued for CGT purposes.įind out about CGT, including instructions for completing the CGT section of the individual income tax return. Relationship breakdown and capital gains taxįind out if you can defer, or 'roll over', CGT on assets that transfer to you in a divorce. How CGT affects your assets if you are a foreign or temporary resident, or change your residency. How and when CGT applies if you sell assets you inherited, including properties and shares. How CGT affects real estate, including rental properties, land, improvements and your home.Ĭheck if you are an investor or trader, and how it affects tax on your shares or units in a fund. ![]() For 2022, your tax bill is roughly 12,969. Use the calculator or steps to work out your CGT, including your capital proceeds and cost base. For long-term capital gains, you fall into the 15 tax bracket, so you calculate your long-term capital gains tax as 15 of 10,000: 1,500. How and when CGT is triggered, such as when an asset is sold, lost or destroyed.įind out if your asset is eligible for the 50% CGT discount. How capital gains tax (CGT) works, and how you report and pay tax on capital gains when you sell assets.Ĭheck if your assets are subject to CGT, exempt, or pre-date CGT.Įstablish the date you buy or acquire an asset, your share of ownership and records to keep. ![]()
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