Capital Gains Tax

Crest Accounting

Capital Gains Tax

What is it?

Capital Gains Tax (CGT) is a tax on profit made from the sale of certain capital assets purchased on or after 20 September 1985.

Some assets are generally exempt from this tax, including the family home, car and personal use assets.

A capital gain or capital loss is calculated by subtracting the cost of the asset from the sale price of that asset. The gain is taxed in the hands of the seller at their marginal rates.

If you make a loss that is not used to reduce another capital gain, that loss is carried forward and can be offset against capital gains you make in the future.

Capital Gains Tax

What we offer?

Our comprehensive Capital Gains Tax Advice process involves a complete review of the transaction, detailing your obligations and highlighting opportunities to minimise any tax liability.

We provide advice on the following:

  • What is the best structure to purchase the asset in
  • How should the sale be structured to mitigate adverse tax affects
  • Preparing cost/benefit analysis on restructuring asset ownership
  • Utilising SMSF’s to get favourable tax outcomes.

Experience

A wealth of Experience amongst a Intermit Team

Knowledge

Generations of Knowledge shared to better inform you

Trust

We partner with every step of the way

Approach

Forward thinking & Future Proofing

Team

Working closely for the same outcome

Capital Gains Tax

Why use us?

There are many CGT concessions that could apply to reduce the amount of taxable capital gains. Having an accountant that knows how to utilise these concessions is very important.

We have accountants that specialise in CGT. They can provide relevant and timely advice to ensure you are in the best possible position from an asset protection and taxation perspective.

Keep in mind that it’s always a good idea to speak with your accountant before you make an asset purchase, so you can ensure you have structured your affairs in the most tax effective way available.