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Personal Loans
Car Loans
Business Loans
Credit Cards
Banking
Health Insurance
Our calculator provides an estimate of the CGT to be paid based on the sale price of the property less the expenses that come with purchasing, maintaining, and selling the property.
Up to
5.15%
p.a. for 4 months, then up to 3.70% p.a. variable
Rabobank High Interest Savings Account
Earn a bonus variable rate for the first 4 months on balances up to $250,000, with a high ongoing rate thereafter. No account keeping fees or min balance, with interest paid monthly. Intro rate for new customers only.
Up to
4.55%
p.a. variable with bonus interest, or 0.15% p.a. standard variable rate
Suncorp Bank Growth Saver Account
Earn bonus interest with no maximum balance or account keeping fees when you grow your savings by $200 or more each month (excluding interest) and make no more than one withdrawal.
How to use the Capital gains tax calculator
Capital gains tax (CGT) applies to the likes of property investments, shares, gold, cryptocurrency and essentially all other assets. To use the capital gains tax calculator, you’ll need to enter some details about your asset:
Once you have entered the details about the asset and your income, click 'calculate' to see how much you may need to pay in capital gains tax.
| Annual Salary | $100,000 |
|---|---|
Length of share ownership | More than 12 months |
Capital gain on shares sold | $10,000 |
CGT on sale | $1,625 |
What is a capital gain?
A capital gain or loss is the amount of money you make or lose on the sale of an asset. The capital difference is how much you purchase the asset for versus how much you sell it for.
How much do I have to pay for CGT?
The amount of CGT you will pay on your shares can vary depending on how long you have held the investment. If you own the asset for less than 12 months, you will have to pay 100% of the capital gain at your income tax rate. If you own the asset for longer than 12 months, you will pay 50% of the capital gain. Capital gains are taxed at the same rate as taxable income — i.e. if you earn $40,000 (32.5% tax bracket) per year and make a capital gain of $60,000, you will pay income tax for $100,000 (37% income tax) and your capital gains will be taxed at 37%.
As capital gains make up your taxable income, the taxation applied may also depend on how much other income you earned, and factors like whether you will be subject to the Medicare levy surcharge (i.e. whether you have a suitable level of private health insurance).
Do I need to pay CGT on shares?
The quickest way to determine if you need to pay CGT on your shares is to see if your shares have made money over the time since you bought them. If you are selling shares at a price below what you paid for them, you have made a loss and you do not need to worry about capital gains tax. If the price of your shares has risen since buying and you are now selling; you will have to pay CGT.
What assets are exempt from capital gains tax?
Any asset you have purchased or acquired since capital gains tax was first introduced (20 September 1985) will be subject to capital gains tax, with some exceptions for personal-use assets such as the family home or your personal vehicle.
