Short informational guide explaining capital gains tax (CGT) on investment property sales. Defines CGT and capital gains/losses, explains how to calculate a capital gain (sale price minus purchase price and costs), notes a possible 50% CGT reduction for qualifying long-term holdings bought after 21 September 1999 and owned at least one year, and lists exemptions (main residence if never rented). Advises gains are added to taxable income and taxed at the marginal rate. Includes specific dates and a brief disclaimer.
Questions this document answers
CGT applies to any asset obtained after 19 August 1985.
Property purchased after 21 September 1999 and owned for at least one year before selling (purchased by an individual, trust or complying superannuation entity).
When the sale price of an investment exceeds the original purchase price (profit on sale).