Australia Capital Gains Tax Calculator (2023)
Please use our handy calculator to calculate your approximate Capital Gains Tax for the Financial Years 21-22 and 22-23. If you want to know more about how the calculation works, you can read our article on how to calculate your capital gains tax.
Note: This calculator only provides an estimate and does not include any tax offsets, medicare levy, medicare levy surcharge or any other information not shown. Please contact us if you would like more information specific to your circumstances.
As Capital Gains Tax is the same across Australia, this calculator works for all states including NSW, VIC, WA, QLD, NT, TAS, SA & ACT.
Please enter the amounts on the left. The calculator will update automatically.
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Capital Gains Tax FAQs
What is Capital Gains Tax?
Capital Gains Tax (CGT) in Australia is the tax paid on the profit made from the sale of any investment. This could include the sale of properties, shares, or other significant assets. CGT is not a separate tax but is part of your income tax. The amount of tax you pay on these profits will depend on a number of factors, including your marginal tax rate, the length of time you held the asset, and any discounts or reductions you may be eligible for.
Does the Capital Gains Tax Calculator change for NSW?
No, the capital gains tax calculator for NSW will be the same as any other state. CGT is collected through the ATO nationwide as part of your annual tax return.
How much Capital Gains Tax do I need to pay on property?
The amount of Capital Gains Tax you need to pay on the sale of a property in Australia depends on several factors, including your taxable income, how long you owned the property, and whether it was your primary residence. You may be eligible for a 50% discount on your capital gain. This discounted gain is then added to your income and taxed at your marginal tax rate. For up-to-date rates and rules, it’s best to consult with a tax advisor or the Australian Taxation Office.
When do I need to pay Capital Gains Tax?
In Australia, Capital Gains Tax is generally payable in the financial year you sell or dispose of a capital asset. The gain or loss from the disposal of the asset is reported in your income tax return for that year. For example, if you sell an investment property in March 2023, you would report the capital gain or loss in your 2022-23 tax return.
How much Capital Gains Tax will I pay?
The amount of Capital Gains Tax you’ll pay depends on the net capital gain you made and your marginal tax rate. Net capital gain is your total capital gains for the year minus your total capital losses (from the sale of other investments) and any CGT discount or other deductions you’re eligible for. This net capital gain is added to your taxable income and taxed at your marginal rate. For an accurate calculation, you should consult with a tax advisor or the Australian Taxation Office.
Can Capital Gains Tax be spread over several years?
Capital Gains Tax is generally calculated and paid in the same financial year in which the asset was sold or disposed of. There isn’t a provision under current Australian tax law that allows you to spread the payment of CGT over several years. However, some specific circumstances and concessions may affect when you declare a capital gain and when you pay the tax. It’s recommended to consult with a tax advisor or the Australian Taxation Office for your specific situation.
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