Use the calculator or steps to work out your CGT, including your capital proceeds and cost base. Show On this page
What you pay tax onIf you sold assets during the year, such as property or shares, you need to work out your capital gain or loss for each asset. When you sell an asset for:
You pay tax on your net capital gains. This is:
There is a capital gains tax (CGT) discount of 50% for Australian individuals who own an asset for 12 months or more. This means you pay tax on only half the net capital gain on that asset. Some assets are exempt from CGT, such as your home. Example: CGT with discount Justin, an Australian resident, buys a block of land. He owns it for 18 months and sells it, making a profit of $10,000. He has no capital losses. Justin is entitled to the 50% CGT discount for the land. He will declare a capital gain of $5,000 in his tax return. End of example How to calculate your CGTWork out your CGT using our online calculator and record keeping tool. You can also access the tool and save your data through your myGov accountExternal Link. CGT calculator and record keeping tool Calculate CGT yourselfStep 1: Work out what you received for the asset
Step 2: Work out your costs for the asset
Step 3: Subtract the costs (2) from what you received (1). If the result is:
Step 4: Repeat steps 1–3 for each CGT event you have had this financial year
Step 5: Subtract your capital losses from your capital gains
Step 6: If the remaining amount is:
Step 7: Apply the CGT discount (50% for individuals and trusts) to any remaining capital gains that are eligible
Step 8: Report your net capital gain or loss in your income tax return
Example: working out CGT for a single asset Rhi buys an investment property for $500,000 and sells it 5 years later for $600,000. She has no other capital gains or losses. Using the steps above, Rhi works out her capital gain as follows.
The capital gain for the property happens on the date of the sale contract, not the date of settlement. For example, if contracts are exchanged on 4 June 2022 and settlement happens on 6 July 2022, Rhi must report her capital gain in her income tax return for the financial year ending 30 June 2022. End of example Example: working out CGT for multiple assets Take the same facts as above, except that in addition to the investment property, Rhi also sells some shares in the same financial year.
Using the steps above, Rhi works out her net capital gain or loss as follows.
End of example Use the calculator or steps to work out your CGT, including your capital proceeds and cost base. How do you calculate capital gains tax?How to calculate capital gains tax on property? In case of long-term capital gain, capital gain = final sale price - (transfer cost + indexed acquisition cost + indexed house improvement cost).
How do you calculate gain on sale of property?The original purchase price of the asset, minus all accumulated depreciation and any accumulated impairment charges, is the carrying value of the asset. Subtract this carrying amount from the sale price of the asset. If the remainder is positive, it is a gain. If the remainder is negative, it is a loss.
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