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Level 2, 1 Prowse Street West Perth WA 6005
- 08 9430 7888
Level 2, 1 Prowse Street West Perth WA 6005
Capital Gains tax is the taxes individuals pay on the profits that emerged from selling assets. The gain or loss is the difference individual gets while selling the asset as per its value. A profitable selling off capital assets needs to be reported while lodging the income tax return. Due to a lack of knowledge or expertise, Many individuals don’t know exemptions and reliefs that can save their large chunks of hard-earned money.
There is a strong need for accounting and cgt planning who can work on your behalf, prepare tax computations and calculate your liability. We can help you with capital gains tax-related tasks and assist you in every process. If you are seeking a reliable capital gains planning provider that can assist with tax planning opportunities while minimising liabilities, our accounting has the expertise to help you out with everything. Over the years, we have helped numerous businesses with our simple yet effective CGT solutions as per the line of business.
GW Capital Group has a accounting and bookkeeping expert with impressive specialized and business experience across a scope of enterprises and the full range of tax collection guidelines. Our profoundly qualified tax experts have broad involvement with capital gains tax planning and achieving valuable outcome for clients.
The CGT or Capital Gains Tax is calculated on the sale of property in Australia by considering the net capital gains in the year the asset is sold. If an individual kept the asset with himself/herself for more than 12 months, the gain was discounted by 50% for taxpayers and 33.33% for Superannuation Funds.
CGT or Capital Gains Tax is a part of income tax. It is taxed on profits earned gained by an individual on selling assets.
Short term gains or losses are obtained when you sell an asset owning it less than a year. Whereas, Long term gains or losses are the results of selling assets keeping their ownership for more than a year.
The capital gains are taxed only once – when the property is sold. If an individual purchases any other property, they need to pay taxes on that transaction as well.
