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To use the Capital Gains Tax calculator, you’ll need to enter some details about your asset.

Capital Gains Tax is applied against investment property, Shares, Gold, Cryptocurrency, essentially all assets.

These are explained below:

• Length of Ownership — Whether you have owned the asset for less than 12 months or longer than 12 months.

• Purchase Price — How much you purchased the asset for.

• Sold Price — How much you have sold the asset for.

• Cost of Purchase - The cost of purchase includes all associated expenses incurred when acquiring an asset. For instance, when purchasing property in Australia, the buyer typically pays stamp duty to the state government, which is a significant component of the purchase costs. Additionally, the buyer may engage the services of a conveyancer or lawyer and might also opt for a building inspection prior to finalising the purchase. You can include all these costs in the Cost of Purchase.

• Costs of Selling — This represents the expenses incurred during the sale of your assets. For instance, when selling an investment property, common costs include real estate agent commissions, marketing expenditures, furniture rental, and pre-sale improvements such as painting and renovations.

• Current Taxable Income — Your current taxable income. This will help determine the tax rate at which the capital gains on your asset will be taxed. It's important to note that any capital gains amount will be added to your current income before calculating the tax rate — i.e. a capital gains amount could force you into a higher tax bracket.

Once you have entered the details about the asset and your income, you can click Calculate to see how much you will need to pay in Capital Gains Tax.