Online Calculators since 2009
The Capital Gains Tax Calculator by iCalculator is the most comprehensive online calculator for capital gains tax calculations in Australia for both individuals and corporations including small business. The calculator allows for quick calculations of Capitals Gains tax which simply requires the asset amount and associated expenses occurred directly as part of acquiring and maintaining the asset.
Alternatively, you can use the more detailed capital gains tax calculator elements and enter specific additions, deductions and the duration for which the asset was held, this allows for calculation of capital gains using the ATO "Indexation Method", "Discount Method" and "Other Method". The Detailed Capital Gains Calculation is effectively an online version of the ATO "Capital Gain or Capital Loss Worksheet".
The calculator can also be used to calculate Capital Loss via the "Detailed Capital Gains Tax Calculation" section. There is relevant advice and information on capital gains below the calculator included detailed user guides and formula for manually calculating capital gains tax in Australia.
|What type of Capital Gains do you want to calculate?|
|Would you like to produce a quick calculation or detailed Capital Gains Tax Calculation?|
|Did you make a gain from your asset or loss?|
|How long have you had the asset that is liable for Capital Gains Tax?|
|Did you acquire the asset before 11.45am on 21st September 1999?|
|Enter the CPI Rates, relevant rates from ATO here (opens in a new window). Example rates are provided|
|Elements that effect Capital Gain (complete all relevent)|
|Acquisition or purchase cost of the CGT asset|
|Incidental costs to acquire the CGT asset|
|Incidental costs that relate to the CGT event|
|Costs of owning the CGT asset|
|Capital expenditure to increase or preserve the asset's value or to install or move it|
|Capital costs to establish, preserve or defend title to, or a right over, the CGT asset|
|Based on our calculations (see tables below), your Capital Gain for tax purposes is:|
|0.00 Somthing here okay|
|-||Cost Base Indexed|
|-||Cost Base Unindexed|
|-||Cost Base Unindexed|
|Reduced Cost Base|
In the following article, which is provided in support of the Capital Gains Tax Calculator, we highlight the key information related to the calculation of capital gains for individuals and corporations who accrue capital gains in Australia. Further detailed information and tax law surrounding capital gains in Australia (such as which assets are subject to capital gains tax in Australia) can be found at the ATO.
In order to provide an understanding of the capital gains tax laws in Australia, we first review how capital gains are calculated in Australia and the formula used for calculating capital gains for individuals and corporations. We then review the capital gains tax rates and thresholds for 2022. The article finishes with detailed user guides for step-by-step calculation of capital gains tax in Australia using the capital gains tax calculator.
In order to correcting calculate capital gains tax in Australia, you must first calculate what your capital gain actually is. There are three separate methods for calculating the capital gain in Australia which factor in whether the capital gains are accrued as a company or individual, the residency status and the period for which you have held the assets before sale/transfer et. (the point at which capital gain occurs).
The three separate methods of calculating Capital Gains in Australia are:
Technically, there is a fourth method which is used for calculating capital loss though the ATO only defines the three methods. The Capital Gains Tax Calculator (CGT Calculator) will automatically calculate all methods relevent based on the criteria you choose in the calculator. If you make a Capital Gain, the most cost efficient means of calculating capital gain will then be used to calculate the capital gains tax due on the capital gain calculated. If you make a Capital Loss, the calculator will display the capital loss only, if you wish to apply this to offset tax due you need to carefully examine the exemption criteria on the ATO or seek professional advice from an accountant to ensure you remain tax compliant.
Capital Gains tax is applied at different rates and thresholds for individuals and corporations with differing rules for those with resident and non-resident status.
Capital Gains for individuals are taxed using the progressive tax rates and thresholds used for the calculation of income tax, in 2022, these are:
|Capital Gain Threshold||Capital Gain Tax Rate|
|0 to $0.00||Nil|
|$1.00 to $18,200.00||0%|
|$18,201.00 to $45,000.00||19%|
|$45,001.00 to $120,000.00||32.5%|
|$120,001.00 and over||37%|
Capital Gains for corporations (which includes companies, businesses etc.) are taxed at a fixed rate, the fixed rate of Capital Gains tax being determined by the annual turnover of the company:
|Capital Gain Tax Rate||Applies to|
|30%||Companies with a turnover greater than $50,000,000.00|
|26%||Companies with a turnover less than $50,000,000.00|
The following user guides are provided in support of iCalculator Capital Gains Tax Calculator for Australia (which we will refer to as the CGT Calculator in the guides for ease of reading). The guide first covers the common input values, then discusses how to complete a quick capital gains tax calculation before covering the specific process for the calculation of capital gains for Individuals and/or Corporations.
If you take a look at the CGT Calculator you will note that the labels next to the input fields have a number to the top right of the title. This number denotes the corresponding number below, this allows us to provide amplifying information so you are clear on what figures you can enter when calculating capital gains or losses using the CGT Calculator.
The "Quick Capital Gains Tax Calculations" process within the CGT Calculator is designed for those who wish to quickly estimate their Capital Gains Tax commitments. This uses a Capital Gains formula similar to that used by the tax formula referred to as the "Other Method" by the ATO (which is in fact a standard method of calculating Capital Gains in countries around the world).
That's it!! The CGT Calculator will automatically calculate your Capital Gain and produce a Capital Gains Tax Calculation which is displayed below the CGT Calculator.
Once the relevent costs and expenditures have been entered, the CGT Calculator will automatically calculate your Capital Gain and produce a Capital Gains Tax Calculation which is displayed below the CGT Calculator if a gain was made. In the event that you had a capital loss, the capitol loss calculation will be shown.
If you found the Capital Gains Tax Calculator useful, you will probably like the Australia Tax Calculator which can be used to calculate income tax and other salary related deductions.