Hi there,
I have posted on this ages ago but the figures have changed a lot since then, so i was hoping someone could help me work this out.
(i did call my accountant who explained it to me but it went in one ear out the other)
I have been using this online calculator http://www.yourmortgage.com.au/calculators/capital_gains_tax/ to try and work out what CGT we will pay on our IP we are selling but i am confused about weather to put our combined income in or just one of our incomes and then double the result?
I really am a novice and have no idea what i am doing, but we REALLY need to get a reasonably accurate figure on what we are going to end up paying.
Also, where would i find all the info on the purchase expenses? I have all our paperwork but i dont know what to look for?!!!
I need an accountant here to go through this mess with me!!
Thanks any help is appreciated!
I have posted on this ages ago but the figures have changed a lot since then, so i was hoping someone could help me work this out.
(i did call my accountant who explained it to me but it went in one ear out the other)
I have been using this online calculator http://www.yourmortgage.com.au/calculators/capital_gains_tax/ to try and work out what CGT we will pay on our IP we are selling but i am confused about weather to put our combined income in or just one of our incomes and then double the result?
I really am a novice and have no idea what i am doing, but we REALLY need to get a reasonably accurate figure on what we are going to end up paying.
Also, where would i find all the info on the purchase expenses? I have all our paperwork but i dont know what to look for?!!!
I need an accountant here to go through this mess with me!!
Thanks any help is appreciated!