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Capital Gains Tax

If you sell a capital asset, such as real estate or shares, you usually make what is known as a capital gain or a capital loss. This is the difference in value between the cost to acquire the asset, and the balance received when the asset is sold or otherwise disposed of. You need to report capital gains and losses in your income tax return and pay the relevant capital gains tax (commonly referred to as “CGT”). When you make a capital gain, it is added to your assessable income and may significantly increase the tax you need to pay.

Abbotts can provide comprehensive advice on CGT issues as well as the legislative requirements that you need to be aware of. We can also assist you to account for the capital gain as a result of a CGT event.

We can assist you with an array of services related to CGT, including:

Our Capital Gains Tax Specialists

Chris-Higham

Chris Higham

Partner, Abbotts Chartered Accountants

Chris has been a part of the Abbotts Team since 1987 and has worked in the accounting profession since 1983. He qualified as a Chartered Accountant in 1991 and was appointed as a Partner in Abbotts Chartered Accountants that year.

David Drake

David Drake

Partner, Abbotts Chartered Accountants

David is our Tax Specialist and has worked in the tax and accounting field since 1982. David spent several years early in his career working in the ATO. He joined the Abbotts team in 1997 and became a Partner of the Practice in July 2000.

Eric Ballard

Eric Ballard

Director, Abbotts Chartered Accountants

Eric has in excess of 15 years of experience providing tax and business services having worked in both mid-tier and boutique advisory firms.

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