What is CGT (Capital Gains Tax)?
Tax-specific. A plain-English definition for Australian business owners.
CGT applies to gains from the disposal of capital assets, including business assets.
CGT is not a separate tax — gains are included in assessable income and taxed at the marginal rate, with various concessions reducing the effective rate. Small business CGT concessions can substantially reduce or eliminate CGT on the sale of an active business asset for eligible small businesses.
In a connected back office this sits with the Finance hub, where Valont runs bookkeeping, managed payroll and bas & tax compliance for Australian SMEs as one team. The full definition set is on the glossary.
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General information, not advice. For how this applies to your business, talk it through with a Trusted Advisor or start with the Business Health Check.