spacer
spacer
spacer
spacer



CPA LOGO
spacer
Latest News
Hot Issues
Accessing superannuation benefits.
Does your business have a company Power of Attorney?
Labor tweaks stage 3 tax cuts to make room for ‘middle Australia’
GrantConnect
2 in 3 SMEs benefit from instant asset write-off, survey reveals
Updated guidance on R&D claims
Do you know how to recover debts?
Wheat Production by Country
Types of small business benchmarks
What is a Commercial Lease?
ATO warns advisers against suspect R&D tax claims
The year of workplace law upheaval
How to Resolve Invoice Payment Disputes
Raft of revenue tweaks in MYEFO to raise millions
The Countries that Export the Most Wine in the World
Record low invoice values ‘reveal inflation sting’
A 2023 Advent Calendar for our clients
Average refund plummets by $580, total payout down $5.4bn
FBT – Christmas Parties and Taxi Fare/Rideshare
Annual wage growth surges to 14-year high of 4%
Is My Organisation Exempt From the Spam Act?
Employee Christmas Parties and Gifts – Any FBT?
Most Expensive Wars In History
Australian Taxation Office (ATO) motor vehicle data matching program extended
Articles archive
Quarter 4 October - December 2023
Quarter 3 July - September 2023
Quarter 2 April - June 2023
Quarter 1 January - March 2023
Quarter 4 October - December 2022
Quarter 3 July - September 2022
Quarter 2 April - June 2022
Quarter 1 January - March 2022
Quarter 4 October - December 2021
Quarter 3 July - September 2021
Quarter 2 April - June 2021
Quarter 1 January - March 2021
Quarter 4 October - December 2020
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 1 of 2023
Articles
Capital gains tax
Using your business money and assets for private purposes
Comparison: How Long It Takes To Decompose?
Details of tax calculation for $3m threshold a 'mixed blessing
Sharing economy reporting regime commences soon
Later retirement takes oldies back to living in ’70s
Changes to working from home deduction - started 1 Jul 2022
Accountants face client backlash over blizzard of tax changes
ATO figures reveal final 2022 DPN tally
Residential rental properties
Did you pay your superannuation guarantee payment late?
Five new year’s tax resolutions
ATO issues fresh warning on illegal early access schemes
Looming changes for the “buy now, pay later” market
Changes to Australian Business Number (ABN) registration compliance
100 Most Influential people in the world.
How crypto assets can trigger CGT tripwires
ATO targets dodgy deductions for holiday homes
Tips for small business owners
About the working from home safety and wellbeing checklist
Countries with the highest GDP per capita between 1800-2040
Downsizer age reduction now in force
Raids stop $33m in tax avoidance, ATO claims
100A ruling leaves trust decisions haunted by ‘uncertainty’
Capital gains tax

How to calculate capital gains tax (CGT) on your assets, assets that are affected, and the CGT discount.



.


What is capital gains tax?


Capital gains tax (CGT) is the tax you pay on profits from selling assets, such as property.


You report capital gains and capital losses in your income tax return and pay tax on your capital gains. Although it is referred to as 'capital gains tax,' it is part of your income tax. It is not a separate tax.


If you have a capital gain, it will increase the tax you need to pay. You may want to work out how much tax you will owe and set aside funds to cover it.


List of CGT assets and exemptions
Check if your assets are subject to CGT, exempt, or pre-date CGT.


Acquiring CGT assets
Establish the date you buy or acquire an asset, your share of ownership and records to keep.


CGT events
How and when CGT is triggered, such as when an asset is sold, lost or destroyed.


CGT discount
Find out if your asset is eligible for the 50% CGT discount.


Calculating your CGT
Use the calculator or steps to work out your CGT, including your capital proceeds and cost base.


Property and capital gains tax
How CGT affects real estate, including rental properties, land, improvements and your home.


Shares and similar investments
Check if you are an investor or trader, and how it affects tax on your shares or units in a fund.


Inherited assets and capital gains tax
How and when CGT applies if you sell assets you inherited, including properties and shares.


Foreign residents and capital gains tax
How CGT affects your assets if you are a foreign or temporary resident, or change your residency.


Relationship breakdown and capital gains tax
Find out if you can defer, or 'roll over', CGT on assets that transfer to you in a divorce.


Market valuation of assets
When and how to get your assets valued for CGT purposes.


How to complete the capital gains section in your tax return
Instructions for completing the CGT section of the individual income tax return.


Small business CGT concessions
Find out if your small business can reduce, disregard or defer CGT on an active asset.


Depreciating assets
How CGT affects depreciating assets like business equipment.


 


 


 


ATO
ato.gov.au




26th-March-2023
spacer
Privacy Policy | Disclaimer