Capital Gains Tax (CGT)

Have you bought or sold an asset? Such a transaction may be taxable under the Capital Gains Tax (CGT) rules.

CGT imposes tax on profit you make when buying and selling an asset. CGT can be very complex as there are many concessions and exemptions within the legislation which must be considered. The legislation can also capture transactions that to the lay person may not need to be assessed within their tax return.

At McCabe Weston Accountants we have the expertise to ensure you are CGT compliant. Below are some of the more complex CGT areas that we can help you with:

1. Sale of residential premises (Main Residence Exemption)
2. Sale of commercial premises (Small Business CGT Concessions)
3. Sale of your business (Small Business CGT Concessions)
4. Business Restructure (CGT Rollover Relief/Small Business CGT Concessions)
5. Selling Asset owned greater than 12 months (CGT Discount)
6. Superannuation Pension 1.6 million cap (CGT Cost Base Reset)