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Capital Gains Tax
What is it?
A capital gains tax (abbreviated: CGT) is a tax charged on capital gains, the profit realized on the sale of an asset that was purchased at a lower price. The most common capital gains are realised from the sale of stocks, bonds, property, business to name a few.What is the CGT rate?
There are a number of factors that effect how much CGT you are liable to pay the Australian Tax Office, these may include how long you have held the asset for, whether you have any capital “losses” to offset against your capital gain, your marginal rate of tax etc. It is important that you seek the advice of tax accountants to ensure you are receiving the correct advice). Here at Crest Financial Chartered Accountants, we can provide that advice.How do I Reduce the Capital Gains Tax I Have to Pay?
The first step is to talk to an experienced tax accountant who can advise on your individual circumstances. They will then be able to demonstrate a range of options available to you that once implemented, will allow you to minimise or reduce your Capital Gains Tax debt.
Does the Australian Tax Office know About These Options?
Yes, they are investments that are authorised by the Australian Tax Office.
How Much Will It Cost Me?
The cost will depend on your individual circumstances and the complexity or simplicity of them. However, you will be advised of any costs or charges at your first consultation, and before you proceed to implement any strategies.
How Do I Know if it Right For Me?
Submit an enquiry using the form below and we will contact you to discuss your individual circumstances to assess whether there is the ability to reduce your Capital Gains Tax. It could be the best investment move you make all year.
