Capital Gains Tax Calculator
Capital gains amount
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Taxable capital gains
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Capital gains tax amount
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Net Remaining Capital Gains
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Your marginal tax rate is:
| TAXABLE INCOME | MARGINAL TAX RATE |
|---|
How to use the Capital Gains Tax calculator
To use the Capital Gains Tax calculator, you’ll need to enter some details about your asset.
Capital Gains Tax is applied against investment property, Shares, Gold, Cryptocurrency, essentially all assets.
These are explained below:
- Purchase Price — How much you purchased the asset for.
- Length of Ownership — Whether you have owned the asset for less than 12 months or longer than 12 months.
- Sold Price — How much you have sold the asset for.
- Current Taxable Income — Your current taxable income. This will help determine the tax rate at which the capital gain on your asset will be taxed. It's important to note that any capital gains amount will be added to your current income before calculating the tax rate — i.e. a capital gains amount could force you into a higher tax bracket.
- Total Costs of Purchasing, Owning and Selling the Asset — This is the amount you have personally invested into the asset before sale. For example, if your asset is a property, this may include marketing for sale or renovations, which will be used to calculate your final capital gains amount.
Once you have entered the details about the asset and your income, you can click Calculate to see how much you will need to pay in Capital Gains Tax.
Example of capital gains tax on shares
| Annual Salary | $100,000 |
|---|---|
Length of share ownership | More than 12 months |
Capital gain on shares sold | $10,000 |
CGT on sale | $1,850 |
Capital Gains Tax Calculator FAQs
What is Capital Gains Tax?
A capital gain or loss is the amount of money you make or lose on the sale of an asset. The capital difference is how much you purchase the asset for versus how much you sell it for.
How much do I have to pay for CGT?
The amount of CGT you will pay on your shares can vary depending on how long you have held the investment. If you own the asset for less than 12 months, you will have to pay 100% of the capital gain at your income tax rate. If you own the asset for longer than 12 months, you will pay 50% of the capital gain. Capital gains are taxed at the same rate as taxable income — i.e. if you earn $40,000 (32.5% tax bracket) per year and make a capital gain of $60,000, you will pay income tax for $100,000 (37% income tax) and your capital gains will be taxed at 37%.
Do I need to pay CGT on shares?
The quickest way to determine if you need to pay CGT on your shares is to see if your shares have made money over the time since you bought them. If you are selling shares at a price below what you paid for them, you have made a loss and you do not need to worry about capital gains tax. If the price of your shares has risen since buying and you are now selling; you will have to pay CGT.
What assets are exempt from Capital Gains Tax?
Any asset you have purchased or acquired since Capital Gains Tax was first introduced (20 September 1985) will be subject to Capital Gains Tax, with some exceptions for personal-use assets such as the family home or your personal vehicle.
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