101 Ways to Save Money on Your Tax--Legally! 2017-2018 by Adrian Raftery

Author:Adrian Raftery [Raftery, Adrian]
Language: eng
Format: epub
ISBN: 9780730344957
Publisher: Wiley
Published: 2017-05-18T00:00:00+00:00

The capital gain is calculated on the difference between the proceeds that you receive from the sale of your shares and the amount you originally paid for them. Brokerage is included in your cost base.

Tip

The simplest way to reduce CGT is to hold onto the investment for more than 12 months. Since September 1999, a 50 per cent discount on capital gains is allowed for shares held for longer than a year.

PITFALL

If you do try to wait for the 12 months' holding period to tick over, be careful that the sharemarket doesn't collapse during this time. A dramatic fall in share price could erase any tax benefit that the 50 per cent discount provides if you are not careful.

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