Capital Gains Tax (CGT) Calculator 2024 – 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.

You will need to estimate the sale price of the property. A local real estate agent will be able to provide you with a realistic estimate of your property’s value based on recent sales of comparable properties in the area. See the top performing agents in your area and request a valuation estimate.


Capital Gains Cost Base


Capital Gains Tax Estimate

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.

Read our CGT guide for more information on capital gains tax when selling your property.

For an individual, the tax brackets for Australian residents’ 2018-2019 and 2019-2020 financial year were:

Taxable income Tax on this income
0 – $18,200 Nil
$18,201 – $37,000 19c for each $1 over $18,200
$37,001 – $90,000 $3,572 plus 32.5c for each $1 over $37,000
$90,001 – $180,000 $20,797 plus 37c for each $1 over $90,000
$180,001 and over $54,097 plus 45c for each $1 over $180,000

Sourced from the Australian Tax Office

Capital Gains Tax Calculator Values

Main Residence – Your main residence is exempt from capital gains tax, as long as there is a dwelling on the property.

12 Months Property Ownership – If you are an Australian resident and have owned the property for more than 12 months, you are able to claim a 50% discount on the capital gains tax payable.

Property Sale Price – The value of your property upon sale. If you need an estimate, you can receive a free property report here.

Property Purchase Price – The original price of the property when you purchased it. This is deducted from the sale price to find your gross capital gain.

Capital Gains Cost Base – This is the amount of money you have net gained from the sale of your property and therefore the amount of money used to evaluate how much tax you will be paying.

Effective Tax Rate – This is the rate at which you are taxed for the capital gains, and depends on your income during the financial year. It is probably somewhere between 30% to 50%.

Capital Gains Tax Estimate – An approximation of the amount of capital gains tax you need to pay to the government for the sale of your property.

To help estimate the value of your property contact us to obtain a free property report.

You can also talk to agents to get a good idea of what your property could sell for.  If you need help finding a top-performing agent in your area, be sure to visit our agent comparison tool.