Welcome back to another episode of the 360 Money Matters Podcast!
Today, we will be talking all about Capital Gains Tax. We will provide you with tips on how to calculate your CGT and the steps on how you can legally minimize it.
Capital Gains Tax is the tax paid on the profit you made by the rise in your asset value. The CGT is applicable to any asset sold for a gain such as property investments or assets held in superannuation.
While understanding what CGT is, we’re sure that many of you will tune in to find out some of the strategies that you can utilise to legally minimise this tax and retain more of your profits in your pocket.
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights
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Understanding the Capital Gains Tax
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Capital gain and cost base
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When do you owe CGT
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Types of assets that attract CGT
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Investment properties and retirement
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Creating the best tax environment for you
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Strategizing your assets and profits
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Utilizing the active asset discount
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How you can legally reduce the CGT
