Probably a silly question, but is there a "simple" way to calculate CGT on an investment property? I am considering selling my IP in WA (don't really want to but may have to) but would like some idea of what we may be up for in CGT. On current prices we should make about $95K (gross) on the original cost of $143K (in 3.5years).
Just a rough estimate would suffice for now. I have looked at the ATO site and found all the publications, but they must be joking if they think a layman can work it out!
Just a rough estimate would suffice for now. I have looked at the ATO site and found all the publications, but they must be joking if they think a layman can work it out!