Capital Gains Tax – which year?

 Will you pay tax earlier than necessary?

The taxing point for a Capital Gain depends upon which event occurs.  The most common event is a simple 60-90 day contract for sale of a property.

Tax will be calculated (assuming main residence does not apply) on the relevant date, which will most often be exchange of contracts with taking of a deposit.

If that is before 30th June, it does not matter if settlement occurs in 90 days or even much longer.

Hence, contracts being negotiated in the final weeks before year-end would have better tax outcomes if exchanged after 1st July.

Cristy Houghton

Embarketing, 48 Johnston Street, Wagga Wagga, NSW, 2650

Cristy's unique career has taken her from country NSW to the city lights of Clarendon Street South Melbourne and back again. With an early career in radio as a copywriter and creative strategist, she is now a Jill of all trades as a graphic designer, website builder, blog writer, video editor, social media manager, marketing strategist and more. 

In fact, give her any task and this chick will figure out how to do it! Go on, we dare you!

No, really, we DARE you!!

Cristy has won two Australian Commercial Radio Awards (ACRAs) for Best Ad and Best Sales Promotion, and even has an 'Employee of the Year' certificate with her name on it.

Cristy and her husband James have traveled extensively through Russia, China and South East Asia, and have two fur-babies, Sooty (cat) and Panda (puppy). Cristy loves drinking coffee, meeting people to drink coffee, coffee tasting and coffee flavoured cocktails. She also enjoys road trips, TED Talks and watching cat videos on youtube.