Understanding and managing Capital Gains Tax (CGT) is crucial when selling investments, businesses, or real estate. GMD Advisory offers expert CGT services to help you navigate the complexities of this tax and ensure that you achieve the most favorable financial outcome. Whether you’re selling an investment property, your business, or a piece of real estate you’ve lived in, our team is here to provide tailored advice and accurate calculations that maximize your benefits and minimize your tax liabilities.
Comprehensive CGT Advice for All Asset Sales
When you sell an asset such as an investment, a business, or real estate, you may be liable for Capital Gains Tax. GMD Advisory specializes in providing comprehensive advice on the sale of various types of assets, ensuring that you fully understand your CGT obligations and options. Our experienced accountants work closely with you to calculate the capital gain on your sale, considering factors like the length of ownership and any eligible exemptions or concessions. This approach ensures that your tax position is optimized, and you’re fully prepared for any CGT implications.
Maximizing Discounts on Capital Gains
If you’ve owned your asset for more than 12 months, you may be eligible for a 50% discount on the capital gain. GMD Advisory ensures that you take full advantage of this discount, accurately calculating your reduced CGT liability. We assess your specific situation, confirm your eligibility for the discount, and apply it correctly, helping you retain more of your profits from the sale. Our goal is to ensure that you benefit from all available tax reliefs, reducing your overall tax burden.
Small Business CGT Concessions
For business owners, selling a business or business assets can trigger significant CGT liabilities. However, the Australian tax system offers several small business CGT concessions that can substantially reduce the amount of tax payable. GMD Advisory reviews your eligibility for these concessions, which may include the 15-year exemption, the 50% active asset reduction, the retirement exemption, and the rollover concession. Our team provides clear, actionable advice on how to structure your sale to maximize these benefits, allowing you to keep more of your hard-earned business profits.
Partial and Full Exemptions on Real Estate Sales
Selling a property that you’ve lived in may qualify you for a partial or full exemption from CGT, depending on how the property was used during your ownership. If you’ve rented out the property part-time or operated a business from it, the calculation of your exemption can become complex. GMD Advisory is experienced in assessing these situations and determining your eligibility for exemptions. We carefully calculate the proportion of your capital gain that is exempt from tax, ensuring that you only pay tax on the portion that is applicable, which can significantly reduce your CGT liability.
Partner with GMD Advisory for Expert CGT Management
Navigating Capital Gains Tax can be challenging, but with GMD Advisory, you can confidently manage your CGT obligations and maximize your financial outcomes. Our expert team provides personalized advice on the sale of investments, businesses, and real estate, ensuring that you benefit from all available discounts, concessions, and exemptions. Whether you’re looking to reduce your tax liability on a recent sale or plan for a future transaction, GMD Advisory offers the support and expertise you need to optimize your CGT position.
Contact GMD Advisory today to schedule a consultation and learn how we can help you manage Capital Gains Tax effectively. Let us guide you through the complexities of CGT, so you can focus on achieving your financial goals. Trust GMD Advisory to be your partner in making the most of your asset sales.