Capital Gains Tax (CGT) Calculator 2023 – How Much Do You Pay?
What is capital gains tax?
Capital gains tax (CGT) is a payment made to the government upon the disposal of a capital gains asset. Capital gains assets include shares, expensive collectables and, of course, real estate. It is not a separate tax, just part of your income tax.
How is capital gains tax calculated?
Capital gains tax is calculated by taking the selling price of your property and subtracting the price you originally purchased it for and associated expenses (like legal fees, stamp duty, agent fees etc.). The remaining amount is your capital gain.
Below you will find our capital gains tax calculator, which will give you the capital gains base you can use to find out how much tax you will need to pay upon sale of your property. You can then input your effective tax rate to find an estimate of the amount of tax you will need to pay.
Once you have your capital gains cost base, you can find your capital gains tax by using the relevant financial year’s tax brackets to find the amount of tax you are required to pay. There may be additional exemptions in addition to those in the calculator.