Capital Gains Tax (CGT) on Shares and ETFs for Beginners | Australian 2024 Tax Return

In this video I will explain how Capital Gains Tax works in Australia for new investors beginning their investment journey with listed shares and ETFs. I will also show you how I track my own share portfolio and calculate Capital Gains Tax automatically and correctly using a FREE online tool so you can determine how much CGT you need to pay, even if you haven't sold yet!

When you calculate Capital Gains Tax correctly you will save on tax or avoid paying CGT entirely which could still allow you to get a tax refund in some situations depending on your other income and taxes already paid.

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ATO LINKS
🔗 Capital gains tax https://www.ato.gov.au/Individuals/Ca...

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CHAPTERS
0:00 Intro
0:23 What is Capital Gains Tax in Australia?
0:42 How Much Capital Gains Tax in Australia?
01:30 Marginal Tax Rate in Australia
02:39 When do you pay Capital Gains Tax in Australia?
03:27 How do you calculate Capital Gains Tax in Australia?
03:37 Step 1: Sale Proceeds
03:55 Step 2: Cost Base
05:19 Step 3: Calculate Gross Capital Gain or Loss
05:54 Step 4: Repeat Step 1:3 for each sale
06:05 Step 5: Subtract Capital Losses
06:18 Step 6: calculate Gross Capital Gain after subtracting capital losses
06:27 Step 7: Capital Gains Discount
07:25 Free Tool!

DISCLAIMER
This video is intended for general information and entertainment only and is not a replacement for professional advice. Money with Dan is not a financial advisor. You should consider seeking independent legal, financial, taxation or other advice to check how the information in this video relates to your unique circumstances. Money with Dan is not liable for any loss caused, whether due to negligence or otherwise arising from the use of. or reliance on, the information provided directly or indirectly, by use of this video.

#tax #taxtips #shares