Calculate CGT consequences on disposals of assets such as rental property, shares and digital assets.
Capital gains tax (CGT) is a tax on the profit you make when you sell an asset that has increased in value. It applies to both personal assets and business assets, and the tax is calculated on the difference between the asset's purchase price (also known as the "cost base") and its selling price.
There are some exemptions and concessions available for certain types of assets, such as the main residence exemption.
Because capital gains tax is applied when selling assets there is often a high amount of leverage involved which means the gains can be sizeable.
Being accutely aware of capital gains discounts, exemptions and small business concessions can save you untold amounts of money when it comes tax time.
CTK Accounting proactively keeps up to date with advancements in tax law such as tax rulings and emergency tax relief.
Keeping our finger on the pulse when it comes to capital gains tax exemptions and concessions saves our clients untold thousands of dollars each year.
We can guide you through the process of calculating your capital gains tax for all kinds of asset sales such as:
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