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    • Resources Government
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Capital gains tax

Capital gains tax (CGT) applies when you sell an asset, such as property, shares or business goodwill.
• The capital gain is the difference between what you sold the asset for and what you purchased the asset for.• Some other costs that have not been otherwise claimed can reduce a capital gain (such as purchase costs, ownership costs, improvements and selling costs).• If you’ve owned the asset for more than 12 months you may be eligible for a 50% CGT discount. (This is not available for assets owned by a company).• The capital gain is added to your assessable income for the financial year it is sold and taxed at your marginal rate.• There are some concessions available for small business assets that may reduce or eliminate the tax payable on a gain subject to specific eligibility rules.• The 4 CGT concessions are : 15 year exemption, 50% active asset reduction, retirement exemption and rollover relief.• Depreciable assets (such as business equipment, vehicles or tools) are not subject to capital gains tax, the profit on sale is included in your ordinary income.
Capital gains for businesses business.gov.au
Capital gains tax for business assets ATO
Small business CGT concessions ATO

Do you worry about getting your GST, BAS and payroll right?

Would you like to:
  • Save time on your record keeping so you have more time to focus on other aspects of your business?
  • Reduce the stress around meeting your GST and payroll reporting obligations?
  • Have reliable data and reports to help you to understand how your business is performing, manage your cash flow, make more informed decisions and improve your business?
I’m Sharon, a registered BAS agent and QuickBooks Certified Advanced with more than 20 years' experience in the industry.Get in touch to find out how I can support you and your business to stay on top of your numbers to run a successful business.
Get in touch
BAS and Bookkeeping Assistance | Services | Why Sharon? | Get in touch | Resources
BAS AND BOOKKEEPING ASSISTANCE
Bookkeeping, BAS and payroll services in Kalamunda, Perth since 2018
  • QuickBooks and Xero
  • Bookkeeping support
  • GST and BAS
  • Payroll and super
  • Profitability and cash flow
  • EOY records for tax return
Services and fees
SHARON SCHUSSLER
BAS agent and QuickBooks specialist
  • Adv.Dip(Acc), CTA
  • Registered BAS agent (tax practitioner)
  • QuickBooks Certified Advanced ProAdvisor
  • 20+ years business accounting and tax experience
Why Sharon?
INVEST IN A SPECIALIST
Dedicated to excellence in service and reliability
  • Services and fees
  • How it works?
  • Why Sharon?
  • BAS agent/accountant team
  • Why use a BAS agent?
  • Quote request
Get in touch
RESOURCES
Latest news and resources Facebook Resources Government Resources from MYOB, Xero and QuickBooks
  • QuickBooks
  • Xero
  • Oline accounting
  • Record keeping
  • Cash flow
  • Why get a bookkeeper?
  • GST and BAS
  • Payroll and super
  • Business structures
  • Capital gains tax
  • Fuel tax credits
  • Home based business
  • Motor vehicles
  • Payments to contractors
  • Repairs, assets and depreciation
  • Tax matters
  • Travel, meals, gifts and entertainment
Resources

DISCLAIMER

This website contains general information as a guide only and is not intended to be advice. Changes in legislation and guidance occur frequently and you are responsible for consulting with your own professional adviser concerning your specific circumstances.

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