Capital Gains Tax (CGT)

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Capital Gains Tax (CGT)

Capital Gains Tax (CGT) is the tax applied when you sell or dispose of an asset and make a profit. This commonly includes assets such as investment properties, shares, and business assets.

At TAS Tailored Accounting Solutions, we help individuals and businesses understand their CGT obligations and implement strategies to minimise tax and maximise after-tax returns.

What Triggers CGT?

 

A CGT event occurs when you sell, transfer, or dispose of an asset. The most common CGT events include:

  • Sale of investment property

  • Disposal of shares or managed funds

  • Sale of a business or business assets

  • Transfers between entities (e.g. trusts, companies)

CGT Discounts and Tax Treatment

CGT is not a separate tax-it forms part of your assessable income in your tax return.

If you've held an asset for more than 12 months, you may be eligible for a CGT discount:

  • 50% discount - Australian resident individuals

  • 33⅓% discount - Complying superannuation funds

  • Not available - Companies

Trusts may distribute discounted capital gains to beneficiaries.

Capital Losses

  • Capital losses can only offset capital gains

  • They cannot be used against salary or business income

  • Unused losses are carried forward indefinitely

Strategic application of losses is critical to ensure eligibility for:

  • CGT discounts

  • Small business CGT concessions

Special CGT Rules

Certain assets have specific CGT treatments, including:

  • Collectables

  • Personal use assets

  • Leases and options

  • Foreign resident interests

CGT Exemptions and Concessions

There are a number of valuable exemptions and concessions, including:

  • Main residence exemption

  • Small business CGT concessions

  • Rollovers (deferring CGT liability)

These rules are complex and require careful planning to ensure compliance and optimal outcomes.

How TAS Can Help

At TAS Tailored Accounting Solutions, we specialise in strategic tax planning and CGT advice for individuals, investors, and business owners.

We can assist with:

  • CGT calculations and reporting

  • Property and investment structuring

  • Small business CGT concessions

  • Tax-effective asset sales and restructures

  • ATO compliance and risk management

Navigating Capital Gains Tax can be complex, but with the right advice, you can reduce your tax liability and protect your wealth.

Contact TAS Tailored Accounting Solutions today for honest, strategic, and expert tax advice tailored to your situation.

03 9728 1448