Capital Gains Tax - CGT
Investments can be a tax effective means to building assets. These investments incur capital gains tax.
Capital Gains arises upon the disposal of an asset. Any Loss is carried forward and applied to any future capital gains. Any capital Gain is included in your income tax return and taxed at your marginal tax rate.
You are required by tax law to hold onto all documents relating to the capital gain for 5 years after the disposal of the asset (event).
Speak to one of our professional accountants who will be able to calculate whether it is a capital gain or loss and cover the other aspects such as various concessions, exemptions and exclusions.