Are net capital gains taxed separately or are they added to other assessable income and taxed?

• They are taxed together but calculated separately. It is your net capital gain or loss that is added to your assessable income before calculating tax payable.
• Net capital gains to be included in your assessable income include all your net capital gains:

• minus the 50% deduction if available;

• minus all capital losses for that income year; and

• minus any further available CGT discounts and concessions.

• Net capital gains are gross capital proceeds that you get from disposing of a CGT asset after deducting its cost base. The cost base is essentially the cost of the asset.
• If you have any concerns you can use our free and anonymous Ask a Lawyer service to get information specific to your situation.