- Description
-
This provides CGT information on individuals, companies and funds, as reported on their individual, company and fund tax returns and CGT schedules. CGT is the tax payable on any net capital gain included with other assessable income on an entity’s (individual, company or fund) tax return. Respective rates of tax apply to a net capital gain.
A capital gain or capital loss may arise if a CGT event happens, with the most common CGT event being the sale of an asset. Some typical assets are:
- land
- shares
- units in a unit trust or managed investment fund
- collectables that cost over $500 (for example, jewellery)
- personal use assets which cost over $10,000.
A net capital gain is the total of capital gains made by a taxpayer for an income year, reduced by:
- the taxpayer’s total capital losses for the income year and any net capital losses from previous years
- any CGT discount or small business CGT concessions the taxpayer is entitled to.
If total capital gains are less than total capital losses for an income year, the taxpayer has a net capital loss for that income year. This loss cannot be deducted from assessable income; it can be used only to reduce capital gains in subsequent income years.
- Download
-
- 00268761.htm&page=13&H13 (Other) 0.00KB - 332 hits
- Date Published
- 7 April 2011
- Date Updated
- Not specified
- Update Frequency
- Not specified
Dataset Information
- data.gov.au Category
- Business, Finance, Government, Industry
- Keywords / Tags
- 1001, BAS, benchmarks, business, capital, CGT, codes, company, compliance, cost, data, debts, excise, FBT, file, Fuel, fund, gains, GST, GST (Goods and services tax), HELP, Individual, Individuals, Net tax, partnerships, PAYGI, PAYGW, post, postcodes, prescribed private funds, ratio, ratios, sample, schemes, statistics, Stats, Superannuation, Taxation, Taxation statistics, taxstats, trust
- Licence
- Creative Commons - Attribution 3.0 Australia (CC BY 3.0)
- Permalink
- http://data.gov.au/2707
Contributing Agency Information
- Agency
- Australian Taxation Office (View all datasets from Australian Taxation Office)
- Jurisdiction
- Commonwealth of Australia
- Agency Program
- Taxation Statistics 2008-09
Dataset Coverage
- Temporal Coverage
- 2008-09 Financial Year
- Geospatial Coverage
- Australia
- Granularity
- Not specified
