• Archi-QS

Capital Gain Tax- Capital Loss and Equipment Depreciation Schedules

Capital Gain Tax (CGT) is a form of income tax which a property owner is liable to pay within the financial year of selling their property. When selling a capital asset, shares or real estate, you usually make a capital gain or a capital loss.

In the instance that a property investor is unable to claim Division 40 Plant and Equipment deductions due to the legislative changes, they should be able to claim a capital loss for the decline in value of the assets. This loss value can then be added to the cost base of the property when calculating any capital gain. Hence, the values of the plant and equipment are needed under these circumstances. These are known as Capital Loss Plant and Equipment Depreciation Schedules.

In circumstances where you are unable to claim Division 40 Plant and Equipment, our Tax Depreciation Schedules comes with an additional schedule which calculates the capital loss of plant and equipment, conveniently, for the owner’s accountant to calculate the reduced CGT liability when applicable.

21 views0 comments

Shop 3, 350 Oxford Street
Bondi Junction NSW 2022

E: admin@archi-qs.com.au

T: 02 9586 4401

Certified Quantity Surveyor - Samuel Star Reg. No. 2752 CQS, AAIQS

Nominated Architect - Sarah Bozionelos Reg. No. 10024 RAIA

© 2020 Archi-QS Pty Ltd. Created by STERNDALE

  • Instagram
  • White Facebook Icon
  • White LinkedIn Icon
  • White YouTube Icon