welcome to r j s & associates
Thinking of selling your property or shares anytime this year?
Here's a sample computation of your capital gains tax upon sale:
Sale Value
Less:
Purchase of property
Stamp Duty on purchase
Legal Fee on purchase
Legal Fee on the sale
Commission sale
Advertising on sale
Building depreciation adds back
Other depreciation as per schedule
*Note: The last 2 can be forgotten. But if you have been claiming these amounts as per the depreciation schedules prepared by BMT or Depreciator then it is important you do the add back. In Xero, it requires you to do a minus “-“ in front of the dollar amount.
The calculations for establishing your capital gains tax can be quite complicated. At R J Sanderson, we can make the process simple and calculate this for you. To arrange a discussion to talk about your CGT and obligations, call 1300 27 28 29 or email us today: info@rjsanderson.com.au
This article is published by R J Sanderson and Associates Pty Ltd ABN 71 060 299 783. This article contains general information only and is not intended to represent specific personal advice (Accounting, taxation, financial or credit). No individual personal circumstances have been taken into consideration for the preparation of this material. It is recommended that you obtain your own personal professional advice before making any financial or business decision.