Capital gains calculator for individuals, trusts and SMSFs
The CGT discount depends on who owns the asset. Use the calculator below to see the net capital gain for an individual, a trust, an SMSF or a company, then let Covely track every parcel for you.
In Australia, if you sell shares, ETFs or crypto you've held for at least 12 months, you usually only pay tax on part of the gain. How big that part is depends on who owns the asset. An individual and a self-managed super fund that make the same sale can end up with very different taxable amounts.
The CGT discount by entity
| Owner | CGT discount | Share of gain that's taxed | Notes |
|---|---|---|---|
| Individual | 50% | 50% | Taxed at your marginal rate |
| Trust (family or unit trust) | 50% | 50%, then passed to beneficiaries | Beneficiaries gross the gain back up and apply their own discount |
| Complying super fund, including an SMSF | 33⅓% | 66⅔% | Taxed at 15% in accumulation phase, so about 10% effective |
| Company | None | 100% | Taxed at the company rate |
The discount applies only when the asset was held for at least 12 months, not counting the day you bought it and the day you sold it. Foreign residents generally can't use the discount for gains made after 8 May 2012.
How to work out your net capital gain
- Add up your capital gains for the financial year (1 July to 30 June). Keep the gains on assets held under 12 months separate from those held longer.
- Subtract your capital losses: this year's losses first, then any losses carried forward from earlier years. Apply them to the gains that don't get a discount first, because that leaves you with the lowest result.
- Apply the discount to whatever is left of your 12-month-plus gains: 50%, 33⅓% or nothing, depending on the owner.
- Add the two together. That's your net capital gain, which goes in your tax return. Losses you couldn't use carry forward to next year. Capital losses can't be used against salary or other income.
The order matters. Discounting first and subtracting losses afterwards is a common mistake, and it understates the gain.
Capital gains calculator
- Losses used
- CGT discount
- Net capital gain
- Estimated tax on the gain
- Losses to carry forward
An estimate for planning only, not tax advice. It leaves out the Medicare levy, exempt pension-phase income and small business concessions. Check your figures with your tax agent or the ATO.
A worked example
Say you sell ETF units you've held for two years for a $10,000 gain, and in the same year sell some shares at a $2,000 loss. After the loss, $8,000 of discountable gain is left:
| Owner | Discount | Net capital gain | Tax at | Approx. tax |
|---|---|---|---|---|
| Individual | $4,000 | $4,000 | 30% | $1,200 |
| SMSF (accumulation) | $2,666.67 | $5,333.33 | 15% | $800 |
| Company | $0 | $8,000 | 30% | $2,400 |
How Covely's CGT estimator helps
The calculator above needs your totals. Getting those totals right is the hard part when you've bought the same ETF a dozen times over the years. Covely's CGT Estimator report (part of Covely PRO) works them out from the trades you've recorded:
- Parcel matching. Every sale is matched against your purchases first in, first out (FIFO). Each match becomes its own row with the buy date, sell date, days held, proceeds, cost base and gain.
- 12-month check. Each parcel is checked for the 12-month holding period, so one sale can be split into discounted and non-discounted parts.
- Losses in the right order. The summary uses losses against non-discounted gains first, then applies the 50% discount to what's left. You can switch the discount off to see the full gain.
- Australian financial years. Choose any July–June financial year, or a calendar year if you report on that basis.
- Unrealised gains. See what you'd owe if you sold today before deciding which holdings to sell.
- Exports for your accountant. Export to CSV or PDF, with one row per disposal.
Like everything in Covely, your trades and cost base stay in a database on your computer. Nothing is uploaded, and you don't need an account.
Related reading: how to track net worth and investments without the cloud.
Frequently asked questions
What CGT discount does an SMSF get?
A complying super fund, including an SMSF, gets a one-third (33⅓%) discount on gains from assets held at least 12 months, so two-thirds of the gain is taxed. At the 15% accumulation-phase rate, that's about 10% of the gain.
Is the CGT discount for a trust different from an individual?
A trust uses the same 50% discount as an individual. When the gain is distributed, each beneficiary grosses it back up and applies their own discount: 50% for individuals, one-third for complying super funds and none for companies.
Do companies get a CGT discount?
No. Companies pay tax on the full capital gain at the company tax rate.
Do I subtract capital losses before or after the discount?
Before. Subtract capital losses (current year first, then carried-forward losses) from your gains, then apply the discount to the remaining gains on assets held at least 12 months.
Which parcel method does Covely use?
Covely matches sales to purchases first in, first out (FIFO). If you choose to sell specific parcels and can identify them, your result may be different, so check the disposal list with your tax agent.
Is Covely's CGT report tax advice?
No. It's an estimate for your records and planning. Check it with your tax agent or the ATO before you lodge.
Try it on your own numbers
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