CGT Accountant Melbourne
Get the facts on asset sales tax with a CGT accountant
Considering selling your small business or other large assets? Here in Australia, you can’t sell off a big asset like your business without being taxed, but it can be a little less frustrating if you know what you’re up for from the start. This is where having an accountant specialising in Capital Gains Tax is incredibly valuable. From possible exemptions, concessions or rollovers which may help reduce your liability, to restructuring of asset holdings, PCR’s CGT accountants provide you with tailored and comprehensive CGT advice.
— Simplify Capital Gains Tax with a CGT Accountant
Your CGT payment will vary, depending on:
- How long you have held the asset
- Whether or not you made improvements
- If depreciation is claimed
- If it is a small business
Here at PCR Accounting & Advisory, we are an accountant specialising in capital gains tax. With a dedicated CGT accountant from PCR, you can get the CGT help you need to know what you have to pay and when, so you’ll be on the road to success.
If you expect you have made a significant capital gain in a financial year it is important to get advice from a professional CGT accountant to discuss how to manage it so that you don’t end up with any unnecessary taxes. Need help with business tax? In conjunction with our capital gains tax services, we offer specialist business tax planning services.
Melbourne's Leading CGT Accountant
Capital Gains Tax is the tax you pay when you sell a big asset, such as your business. But getting the right Capital Gains Tax advice is critical to ensuring you know what, when and how much you should pay.
Capital Gains Tax only applies to the sale of specific assets such as a business or investment properties, whereas your principal home, personal car or assets acquired before the 20th of September 1985, are exempt.
Fortunately, if it is a small business you have sold, there is a whole range of CGT concessions possibly available to you and options such as buying another asset to defer your Capital Gains or putting some into super to avoid paying capital gains tax. With our dedicated Capital Gains Tax services, you can feel prepared to sell your business.
Capital Gains Tax is paid each year and, contrary to what it might imply, isn’t actually a separate tax. It forms part of your assessable income and is payable as part of your income tax each year.
However, if you make a capital loss you won’t have to pay Capital Gains Tax, but it is important to note that it is unable to offset tax on any other income, and is instead ‘carried forward’ to offset capital gains in future income years.
CGT applies when you sell an asset, but can also happen if the asset is given away, destroyed or lost, or you are no longer an Australian resident. Our CGT accountants can make sure you’re paying it properly and help avoid any unwelcome surprises.
Calculating your Capital Gains Tax is complex, but there may be discounts and options like indexation which may be applicable, so it’s important to have a CGT accounting professional walk you through it and explore every avenue so you don’t waste money on tax unnecessarily or miscalculate your expected tax. PCR offer tailored CGT services for small business, so contact us today.
Not all Capital Gains are tangible, which is where this can get confusing. There can be a lot of intricate details in an event where you are only selling a part of the business, buying out a partner, altering your business structure and receiving compensation for lost or destroyed assets. Our dedicated CGT accountants will make sure all your bases are covered correctly.
Expert CGT Accounting Services
There is a reason why we are a leader in CGT accounting in Melbourne; our CGT specialists can calculate your estimated Capital Gains Tax quickly and accurately to alleviate stress and avoid any unwelcome CGT surprises.
To calculate CGT, you need to be sure your records are organised and up to date. This includes:
- Sale contract/s
- Receipts of initial and ongoing expenses
- Loan and borrowing records
- Interest payment records
- Valuations
The best way to approach your capital gains tax is with a professional CGT accountant. Need CGT help? Get it sorted today with a CGT accountant from PCR so you can feel confident that your capital gains tax is calculated and paid correctly.
Why Choose PCR as Your CGT Accountant?
We are an honest, no-nonsense CGT advisory and coaching team who tell it like it is.
We help you assess your finances and navigate the sales process of your CGT assets.
We show you how you can predict your CGT, pay it right and get the most out of your profits.
Trusted CGT Advice for Australian Businesses
As a leading Capital Gains Tax accountant in Melbourne, Morwell and beyond, we ensure your business obliges by all the relevant rules and regulations, whilst planning for payments of CGT. Our CGT accountants do this by understanding how it applies to your circumstances and helping you with record keeping for capital assets. Stop wasting time trying to work out CGT yourself; get full peace of mind knowing that your CGT is in the hands of an expert so you focus on more important things, like running your business. What are you waiting for? Call us today!
Owner of PCR Accounting & Advisory, Peter Marmara-Stewart is a SAPEPAA foundation member and accredited advisor specialising in strategic business advice, asset protection & structuring and cashflow maximisation. Click here to find out more.
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PHONE:
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Morwell: 03 5134 1778
ADDRESS:
Suite 98, Level 27/101 Collins St, Melbourne VIC 3000
26 Buckley Street, Morwell Vic 3840
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