Super helpful, but i'm still a little confused on the CGT. Are the Capital gains reported each year to your tax record, but only charged once you sell? Or are you Paying CGT each year, as well as when you sell?
Yep. It’s at $30k note for concessional. But there are rules about it, so check first. Also, employees receiving super automatically use some of their cap through employer contributions.
You pay both - you pay CGT when you sell (for a profit). But the ETF issuer will also send an annual tax statement with income *and* capital gains generated ‘inside’ the ETF. You will receive this tax statement between July and September each year, for the year ended June 30th.
This was very helpful. I have a lot if confusion surrounding tax time with ETFs. Thanks so much !
great content - thanks
Super helpful, but i'm still a little confused on the CGT.
Are the Capital gains reported each year to your tax record, but only charged once you sell?
Or are you Paying CGT each year, as well as when you sell?
So it seems easier to sallery sacrifice up to $30k a year @15 %
And just put into super ???
Yep. It’s at $30k note for concessional. But there are rules about it, so check first. Also, employees receiving super automatically use some of their cap through employer contributions.
Way easier if you don't mind not having access to that money until preservation age.
Question: do we pay any capital gains tax *while* we hold on to the ETF?
Or do do we only pay capital gains when we sell the ETF?
You pay both - you pay CGT when you sell (for a profit). But the ETF issuer will also send an annual tax statement with income *and* capital gains generated ‘inside’ the ETF. You will receive this tax statement between July and September each year, for the year ended June 30th.
@@RaskFinance Thank you!
@@RaskFinanceis there a way to compare the performance of ETF on an After tax basis?