November 02, 2020

Luke on 2CC – Capital Gains Tax and how it works

19 minutes

Ask the expert, Rhys Kyburz joins Luke on 2CC

Luke Smith joins 2CC Talking Canberra 1206AM. The Money Show aired on Friday 30 October 2020 and the topic: What is Capital Gains Tax and how does it work?

Financial Planner Luke Smith this month is joined by a number of experts he uses to answer financial questions that have a specialist requirement. This week, Luke and Leon at 2CC are joined by Rhys Kyburz of RSM Australia to explore all the key issues around Capital Gains Tax. Luke kicks off the show however by answering a listener question – can you give away money if you’re retired and is there a difference if you receive a Centrelink Pension or are a self-funded retiree?

Key highlights include:

Did you know that there was a time in Australia when there was no capital gains tax – ah the good old days…

What is Capital Gains Tax?

How is it calculated?

Did you know you pay Capital Gains Tax at your marginal tax rate?

What happens if your capital gain pushes you into a higher marginal tax rate?

What are the things you might think about when tax planning – can you offset a gain or get a tax deduction elsewhere, like a super contribution?

Is your home exempt from Capital Gains Tax?

Does Capital Gains Tax apply to assets other than property?

As an Accountant, Rhys provides us with his top tips for managing Capital Gains Tax.

A free appointment offer to talk about your own financial planning issues. Everyone has different goals and financial planning advice can help you achieve them more effectively, especially when you link different strategies.

Listen to the Podcast right now

https://www.envisionfinancial.com.au/wp-content/uploads/2020/11/The-Strategy-Stacker-Luke-Talks-Money-30102020.mp3

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

Do you need help with Capital Gains Tax?

Did you know that Capital Gains Tax applies to other assets, not just investment property?

Luke Smith at Envision Financial is happy to refer you to Rhys Kyburz of RSM Australia at no cost. Rhys can provide you with information and support around accounting and taxation matters, including Capital Gains Tax. You can call Rhys on 6217 0300 to have a discussion and make an appointment. Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your investment and retirement goals.

Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your own investment, super or retirement goals. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.

Luke will return to talk about financial planning on 2CC next Friday from 4.30pm. Listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.

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By Luke Smith