Capital Gains Tax Calculator

Thinking of selling your property or shares? Depending on your taxable income, you may need to pay Capital Gains Tax (CGT) on the sale.

Our simple calculator quickly estimates your CGT based on the sale price of your property, real estate or shares minus the expenses associated with purchasing, maintaining, and selling it. The estimate indicates the total capital gains and the potential tax liability to the Australian Taxation Office (ATO).

 FAQs

What is Capital Gains Tax (CGT)?

Capital Gains Tax (CGT) is a tax you pay on the profit from selling certain assets, such as property, shares, or other investments. It applies when you sell an asset for more than you paid for it.

How is capital gains tax calculated in Australia?

CGT is calculated by subtracting the asset’s purchase price (or cost base) from the sale price. If you’ve owned the asset for more than 12 months, you may be eligible for a 50% discount on the gain.

Are there any capital gains tax discounts or exemptions?

Yes, there is a 50% capital gains tax discount for Australian resident individuals who own an asset for 12 months or more. Other exemptions apply, such as assets acquired before 1985 or personal use assets below a certain value.

What records should I keep for capital gains tax purposes?

You should keep records of the purchase price, sale price, associated costs (such as legal fees, stamp duty, etc.), and any expenses that may add to the asset’s cost base. Keeping these records is crucial for accurate CGT calculation.

Do foreign residents have to pay capital gains tax on Australian assets?

Foreign residents are generally liable for CGT on certain Australian assets, primarily real estate and business assets. However, foreign residents are not eligible for the CGT discount.

When do I have to pay capital gains tax in Australia?

You incur CGT when you sell or otherwise dispose of an asset. The tax applies to the capital gain in the year the transaction takes place, and you declare it in your annual tax return.

Do I have to pay capital gains tax on my primary residence?

Generally, CGT does not apply to your primary residence. However, exceptions exist if you used your home for business or rental purposes at any point.

How does capital gains tax apply to inherited assets?

CGT may apply when you sell an inherited asset. Special rules exist for inherited property, especially if the asset was the deceased’s primary residence. Seek professional advice, as these rules can be complex.

Can I offset a capital loss against a capital gain?

Yes, you can use capital losses to offset capital gains, potentially reducing your CGT. If you have more losses than gains, you may carry forward the losses to future years.

What happens if I sell shares?

Selling shares can trigger CGT if you’ve made a profit. You calculate the gain by subtracting the purchase cost from the sale price and include any brokerage fees. A CGT discount may apply if held for over 12 months.

  • The information on this page and figures provided by this calculator on cgtaxcalculator.com.au should be used as an informational and estimate only, should not be relied on as true indication of the capital gains tax you may be liable to pay, and do not constitute professional advice. Capital gains tax is complex, and you should seek professional advice in relation to your personal financial circumstances. By using this calculator, you acknowledge and agree to the terms set out in this disclaimer. For more detailed information, please review our full terms and conditions on the website.

    This calculator subtracts the purchase price of the asset, including the purchase and sale costs, from the sale price of the asset. If there is a capital gain, the applicable marginal tax rate for the 2024-25 financial year is applied to the taxable income entered plus the capital gain (including any applicable discount if held for over 12 months).

    We have made a number of assumptions when producing the calculations including:

    • Residency: We assume you were a permanent resident of Australia for the relevant financial year.

    • Purchase date: We assume the asset was purchased after 20 September 1985.

    • Ownership: We assume the asset is owned by you as an individual, and is not your owner-occupied home.

    Limitation

    • This calculator does not guarantee the availability of any financial product or the accuracy of the calculations. Please consult a financial advisor or the relevant product provider to obtain specific advice tailored to your circumstances.

    • We do not accept any liability for errors or omissions, or for any loss you may suffer as a result of relying on these calculations.