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Capital gains tax calculator |
Try our 'Capital gains tax calculator' - it will give you a guide as to the amount of CGT that may apply if you sold an asset, and how the relevant CGT method might affect this. |
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Examples of assets subject to CGT are: |
- Land and buildings (eg. your holiday home; your home is exempt)
- Shares
- Collectables where market value when acquired exceeded $500, eg jewellery or an artwork
- Personal use assets which costs over $10,000, eg. a boat
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This calculator generates factual information about capital gains tax. It does not constitute a recommendation or statement of opinion about capital gains tax and is not intended to be relied upon for the purpose of making a decision in relation to a financial product. For advice about acquiring, holding or disposing of shares, you should consider obtaining advice from an AMP Financial Planner. |
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The calculator only considers a limited range of issues relevant to calculating capital gains tax. It does not consider all of your personal circumstances. For more information on capital gains tax and issues to be considered in this context, visit the Investments - What you need to know area of the AMP website. |
How to use this calculator |
1. |
Enter Income and Investment details in 'Step 1 - Enter details'. |
2. |
Go to 'Step 2 - Results' to see the amount of capital gains tax is payable. |
3. |
Go to 'Step 3 - Next steps' for what to do next and related calculators. |
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The calculator is based on a series of assumptions (details on which can be found below). These assumptions and your results are not guaranteed. You should check the assumptions used in this calculator as they may not be appropriate to your personal circumstances. |
Assumptions |
1. |
The calculator produces results for Australian residents tax payers only. |
2. |
The CGT calculation is for individuals only. |
3. |
Tax offsets will not be included in the calculation of CGT. |
4. |
Your Marginal Tax Rate is assumed to be fixed. That is it will not increase as your assessable income increase. |
5. |
Your Marginal Tax Rates includes a Medicare Levy of 1.5% . |
6. |
The CGT calculation does not include unit trust or managed fund investments. |
7. |
Medical levy surcharge will not be considered in the calculation of CGT. |
8. |
Capital loss on a personal use asset eg a boat is disregarded. |
9. |
The CGT calculator assumes there are no improvements to the assets. |
10. |
Tax losses are not considered. If you have tax losses you should seek advice from a taxation specialist or a financial planner. |
11. |
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If your actual situation differs from the assumptions made, then the calculations may differ from your actual amounts. |
What you need to know |
Tax laws are complex. This calculator is based on our current understanding of those tax laws effective as at July 2006. |
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The assumptions contained in, and the results obtained from, this calculator are believed to be accurate and are made in good faith. However to the extent permitted by law, we disclaim all liability to any person in respect of anything done or omitted to be done, and the consequences of such action or omission, by any such person in reliance upon any part of the information obtained using this calculator. |
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Any person intending to act or rely on the information should check its application to the circumstances. We would recommend that you consult with your AMP Financial Planner before making any decision. |
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Any advice contained in this calculator is provided by AMP Life Limited, ABN 84 079 300 379, AFSL No 233671. |
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Any advice is not based on your personal objectives, financial situation or needs. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs before acting on the advice. |
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AMP Life Limited is part of the AMP group of companies. AMP companies receive fees and charges in relation to its products as set out in the product disclosure statements. AMP employees and/or directors also receive salaries, bonuses and/or other benefits from the AMP group. |
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