If you sell a capital asset, such as real estate, you usually make a capital gain or a capital loss. This is the difference between what it cost you to acquire the asset and what you receive when you dispose of it. You need to report capital gains and losses in your income tax return and pay tax on your capital gains. Although it's referred to as capital gains tax (CGT), this is actually part of your income tax.
For More Information Visit: https://valuersoffice.com.au/capital_gains_tax_valuations/capital_gains_tax_valuations.php
mail: services@valuersoffice.com.au | Office: 02 80060663
Head Office: Se 8 421 Harris St DARLING HARBOUR NSW 2007 | PO Box 1117 BROADWAY NSW 2007
NSW Valuations Office |
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