Capital Gains Tax
URL: http://www.capitalgainstax.com.au

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Description: Capital Gains Tax is levied by the Australian Federal Government on the disposal of an asset. The framework is seperate from the income tax provisions, but runs paralell to tax eventual capital gains at a rate that is based on an individual taxpayers individual income tax rate.
Capital Gains Tax applies to most assets held by residents, but is subject to a number of exemptions, such as the main residence exemption, which are all explained in detail online.
Submitted: Jun 6, 2006 - 7:48 AM
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