How much CGT?

rider58 said:

Thanks guys, that clears it up a little more... Where is the best place to go to learn about all this more?

Just to toss a spanner in the works. I've been buying these over the past two year. So would this mean some are calculated for the post 12 and some on pre 12months?

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Yeh so simply the capital gain from the shares held more than 12 months gets a 50% discount and the capital gain from the shares held less than 12 months don't get a discount.

This is how I understand...

My current job pay me $60,000 a year. I am on 30% tax rate. I make a profit of $10,000 in stock market within 12 month, I will then have to to pay $3000 in tax for $10,000 profit ($10,000 - 30% = $3,000).

On the other hand, I keep my share for longer than 12 month, I will then sell it for the same profit of $10,000. I would only have to pay $1,500 in tax for $10,000 profit from stock market. (($10,000 - 30%) - 50% discount) = $1,500.