The Capital Gains Tax (CGT) Report in Sharesight calculates capital gains made on shares as per Australian Tax Office rules. The report may be run over any date range. The report is based on the ‘discount method’ for shares that were held for more than 1 year and the ‘other method’...
4. Cash discount Output VAT= sales revenue*(1-x%discount)*20% Adjustment is made if discount subsequently does not apply. 5.VAT on fuel the company only paid the business part: input VAT= business fuel *20% the company paid all fuel(business& private),however employee reimburse all the ...
CGT discount 50%Incidental costs Any additional cost incurred as part of buying or holding the asset, such as brokerage fees, spreads or taxes. Holding period Enter the holding period to determine if the asset qualifies for short-term (less than 12 months) or long-term (over 12 months) cap...
While you need to include all capital gains in your tax return for the year you sell the shares, a discount applies for longer-term investments. Investments held for more than 12 months are only taxed on half of the capital gain. This is known as thecapital gains tax (CGT) discount....