This tool calculates your capital gains tax to help you estimate your tax liability from asset sales.
How to Use the CGT Calculator
To use this Capital Gains Tax (CGT) calculator, please follow the steps below:
- Enter the purchase price of the asset you sold.
- Enter the selling price of the asset.
- Select the purchase date and selling date using the date pickers.
- Enter any expenses incurred during the purchase or selling of the asset.
- Enter your annual income before taxes.
- Click the “Calculate” button to see the CGT you need to pay.
How the Calculator Works
This calculator finds your capital gain by subtracting the purchase price and any incurred expenses from the selling price. It then calculates the holding period of the asset by comparing the selling date and purchase date. Based on your annual income, it applies a CGT rate to the capital gain to compute your CGT liability.
Note on Calculator Limitations
This CGT calculator is intended for general informational purposes only and may not account for all variables or special tax circumstances. For specific tax advice, you should consult with a tax professional.
Use Cases for This Calculator
Calculate Capital Gains Tax (CGT) on Sale of Stock
Enter the purchase price, sale price, and holding period for your stock to accurately estimate the capital gains tax you owe. This calculator takes into consideration factors such as capital gains tax rate and any deductions or exemptions you may be eligible for.
Determine Tax Liability for Property Sale
Input the original cost, selling price, and length of ownership of your property to find out how much capital gains tax you’ll need to pay. Discover your taxable gain and how it affects your overall tax liability with this handy calculator.
Calculate CGT on Investment Portfolio
By entering the purchase value, current value, and holding period of your investments, you can easily assess the capital gains tax owed on your investment portfolio. This calculator provides a clear breakdown of your taxable gains and potential tax savings.
Estimate Capital Gains Tax on Business Assets
Specify the initial cost, selling price, and ownership duration of your business assets to determine the capital gains tax payable. Gain insights into your tax obligations and optimize your tax planning strategy based on the results.
Calculate CGT Exemptions for Principal Residence
By providing details such as the purchase price, sale price, and years of residency in your home, you can check if you qualify for capital gains tax exemptions on your principal residence. Understand the tax implications of selling your home with this reliable estimator.
Determine CGT on Inherited Assets
Input the market value at the time of inheritance, the selling price, and the holding period to compute the capital gains tax on inherited assets. Gain clarity on the tax consequences of selling inherited properties or investments with this calculator.
Estimate CGT on Sale of Precious Metals
Specify the purchase cost, selling value, and duration of ownership for your precious metals to get an accurate estimate of the capital gains tax owed. Use this calculator to plan your precious metals investments and tax obligations effectively.
Calculate Capital Gains Tax for Cryptocurrency Transactions
Enter the purchase price, selling price, and holding period for your cryptocurrency transactions to determine the capital gains tax liability. Get a comprehensive overview of your taxable gains and make informed decisions regarding your crypto investments.
Determine CGT Exemptions for Small Business Assets
Provide the details of your small business asset sale, including the original cost, sale proceeds, and ownership duration, to evaluate if you qualify for CGT exemptions. Utilize this calculator to optimize your tax planning and maximize your tax savings on small business asset sales.
Calculate CGT on Sale of Vintage Cars
Input the purchase price, selling price, and holding period for your vintage car to accurately estimate the capital gains tax payable. Stay informed about the tax implications of selling vintage cars and plan your transactions effectively with this specialized calculator.