Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Registered members
Current visitors
Charts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
General
General Chat
Full time fossicking and tax
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support Prospecting Australia:
This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Message
<blockquote data-quote="Swinging &amp; digging" data-source="post: 521613" data-attributes="member: 2764"><p>I recall reading maybe in GG & T, ATO can charge Capital Gains Tax on gold you find, say you found a 10 ounce nugget 10 years ago and Gold was $1,000 an ounce. You sell it now at $2150 per ounce, so the taxable amount is 50% of the gain. $5,750 is liable for CGT at your marginal rate.</p><p></p><p>To my knowledge no person has been asked to pay this yet, but i recall reading the article.</p></blockquote><p></p>
[QUOTE="Swinging & digging, post: 521613, member: 2764"] I recall reading maybe in GG & T, ATO can charge Capital Gains Tax on gold you find, say you found a 10 ounce nugget 10 years ago and Gold was $1,000 an ounce. You sell it now at $2150 per ounce, so the taxable amount is 50% of the gain. $5,750 is liable for CGT at your marginal rate. To my knowledge no person has been asked to pay this yet, but i recall reading the article. [/QUOTE]
Verification
Post reply
General
General Chat
Full time fossicking and tax
Top