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:
- Purchase price — How much you purchased the asset for.
- Length of ownership — Whether you have owned the asset for less than 12 months or longer than 12 months.
- Sold price — How much you have sold the asset for.
- Current taxable income — Your current taxable income. This will help determine the tax rate at which the capital gain on your asset will be applied. It's important to note that any capital gains amount will be added to your current income before calculating the tax rate — i.e. a capital gains amount could force you into a higher tax bracket.
- Total costs of purchasing, owning and selling the asset — This is the amount you have personally invested into the asset before sale. For example, if your asset is a property, this may include marketing for sale or renovations, which will be used to calculate your final capital gains amount.
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.
Example of capital gains tax on shares
| Annual Salary | $100,000 |
|---|---|
Length of share ownership | More than 12 months |
Capital gain on shares sold | $10,000 |
CGT on sale | $1,625 |
Changes to capital gains tax from 1 July 2027
The Federal Government has announced proposed changes to how capital gains tax is applied in Australia from 1 July 2027. Under the changes, the current 50% CGT discount on assets held for more than 12 months will be replaced with a system that will tax the asset based on its inflation-adjusted value when it’s sold.
The aim is to tax only the real gains on the asset, as opposed to those simply reflecting price inflation during the period the asset was held. The changes would also see a minimum 30% CGT rate applied on all taxable capital gains.
Money.com.au's nationally representative survey found that 39% of property investors say reducing the 50% CGT discount on the sale of investment properties would prompt them to step back from investing in real estate or sell existing investments to cash in on current tax settings.
A further 22% said that capping or limiting negative gearing concessions to one property would lead them to take similar action.
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