Capital Gains Tax (CGT) Explained | Finance 101 | Australia | 2019 finance 101

by adminhuahinsunvilla3sd



Capital Gains tax is when you sell an asset or an investment for more than you paid for it.

In this video we explain capital gains tax (CGT).

The 3 contributing factors to understand.
1. The Cost Base
2. Who owns the asset (Which Tax Zone?)
3. How long have you owned the Asset. (CGT Discount)

Then we then do the maths to work out a capital gains example & the amount of tax you’d pay.

General Advice & Accuracy warning:
The material shown in this presentation is for general information purposes only. It is not intended to be, nor should it be read as specific personal investment or risk advice.
Whilst all care is taken in the preparation of this material no warranty is given with respect to the information provided, and accordingly no responsibility for errors or omissions, including responsibility to any person by reason of negligence is accepted by What If Advice Pty Ltd, or any member or employee of What If Advice Pty Ltd.

Before acting on any of the information contained in this presentation you should obtain special advice from a specialist investment or risk professional, which is appropriate to your specific investment or risk needs, objectives and financial situation. .

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28 comments

Philip Michael 21/02/2022 - 1:33 Sáng

Investing with Mrs Trisha has been the best step I have ever took in my life, may God bless that day I meet her

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Sean 21/02/2022 - 1:33 Sáng

Is the discount based on living in the house or has nothing to do with it? just 12months or more?

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Kris coolness 21/02/2022 - 1:33 Sáng

Thanks for the video.I assume if the property is jointly owned with the partner, that example of $85K will be divided into 2 and added to their income..is this correct ? Thanks heaps

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Carlos Chica Villadiego 21/02/2022 - 1:33 Sáng

Great video, thanks! Now, I have a question: how does depreciation work if I’ve been off setting it within my individual yearly tax returns? Thanks

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Anton Ruiz 21/02/2022 - 1:33 Sáng

What about the building depreciation claw back? isn't this deducted on your cost base which may significantly affect the CGT you will pay?

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Bailey Stevens 21/02/2022 - 1:33 Sáng

Hey mate, what about capital losses in Australia? I know America you can claim up to $3,000 back, can you help :)?

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William Vaux 21/02/2022 - 1:33 Sáng

So if you were on a government pension and you had invested in Bitcoin and it was say worth $10,000,000 when you sold it, but purchased it 2013 would that mean you get a 50% off the 45% CGT rate as an individual? and would you have to pay any other tax?

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Shiny Parie 21/02/2022 - 1:33 Sáng

Thank you for your video!
I’m new to investing and could you please confirm, if we have bought shares but not sold them in the last financial year, then we don’t need to disclose this to the ATO during tax returns nor do we pay any tax for the unsold shares, correct?
Thanks in advance!

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Hassan Khan 21/02/2022 - 1:33 Sáng

Are people above 60 exempt from CGT?

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JezzaN1 21/02/2022 - 1:33 Sáng

Fantastic explanation – very easy to understand.

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Rick Simmons 21/02/2022 - 1:33 Sáng

Excellent and easy to follow explanation

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Matthew Vincent 21/02/2022 - 1:33 Sáng

question, is it after 5 years CGT comes no existant? or you just don't pay as much?

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Benyameen Yitzhak 21/02/2022 - 1:33 Sáng

This is actually amazing. Well done, but to improve maybe do another example like a company etc

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totes botes 21/02/2022 - 1:33 Sáng

50% percent DISCOUNT for individual capital gains tax….. You are definitely a glass fall full man.

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Misha Lebedoff 21/02/2022 - 1:33 Sáng

Who knows should I pay any taxes to ATO if I owned american shares less than a year, then sold them with profit, but I left these money at my broker's account (I reinvested these money again in others shares)?

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Nhi Nguyen 21/02/2022 - 1:33 Sáng

Would this be the same with cryptocurrency?

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Rishab Jain 21/02/2022 - 1:33 Sáng

Hi.
For example, If a business owner decides to demolish his small business shop and decides to build 5-6 storey building in that land and gets permission (approval) from the local council. With no experience in this field, the owner appoints a builder for the construction of the apartment then these apartments are sold individually to the public through a leading real estate age.
My question is – if CGT is ignored, is the sale proceeds generated from the apartmnets generate ordinary income..?

I'd also sugguest you to please upload these same short videos on your Instagram's page as IGTV videos. You explain Great content in nutshell.
Thanks a lot 🙂

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Ben Chesterman 21/02/2022 - 1:33 Sáng

Bob Hawke can rot in hell , for introducing it typical socialist turd thanks to him less millionaires and middle class = less self retired

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Rajan kc 21/02/2022 - 1:33 Sáng

that means as a individual if i make up to 18000 just by selling shares and have no other salary or wages income, i dont have to pay tax. is that right?

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Sadeq El Maazouzi 21/02/2022 - 1:33 Sáng

Hi
If you buy a land and house package as investment. When does the minimum 12 months starts? Land purchase contract date to sell contract date? Or something else
Thanks for your advise

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Bernie aus Australien 21/02/2022 - 1:33 Sáng

very well explained. thank you for the video.
Just 1 question:
If I owned an investment property for 8 years. would I be able to claim inlation of (CPI say 3%) the purchase price as well?

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Sanjee Sen 21/02/2022 - 1:33 Sáng

Thanks Conaill! I learnt about the importance of knowing your Cost Base. I guess it would have an impact on some of the larger magnitude purchases. Just an idea for future videos – maybe you can touch on how you're meant to treat losses from trading shares? Thanks!

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mr android 21/02/2022 - 1:33 Sáng

Hi, does this apply to shares CGT also?

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Andy King 21/02/2022 - 1:33 Sáng

How is this right, if you already paid the 50% from the 170k would that main you don't need to pay tax on that capital gains again?

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陈胖子和高大卫 21/02/2022 - 1:33 Sáng

Hi says who own the house, is it means to actually live in or doesn’t matter, as long as the house is in my name even though I did not live in but rent out?

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TJ 21/02/2022 - 1:33 Sáng

This is a really good video, thank you!

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Jay Pea 21/02/2022 - 1:33 Sáng

Great info, got yourself a new subscriber here

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united 21/02/2022 - 1:33 Sáng

Great vid mate

Reply

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