You have from 1 July to 31 October to lodge your tax return for the previous income year. If you use a registered tax agent to prepare and lodge your tax return, you may be able to lodge later than 31 October.
Tax law is subject to change. For the latest information, check the ATO website or with your accountant or financial advisor. This page is intended to provide general information only and does not take into account your individual objectives, financial situation or needs.
Taxation considerations are general and based on present taxation laws and may be subject to change. You should seek independent, professional tax advice before making any decision based on this information. Commonwealth Bank is also not a registered tax financial adviser under the Tax Agent Services Act and you should seek tax advice from a registered tax agent or a registered tax financial adviser if you intend to rely on this information to satisfy the liabilities or obligations or claim entitlements that arise, or could arise, under a taxation law.
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Hide this message. Home Money and tax Capital Gains Tax. Tax when you sell shares. When you do not pay it You do not usually need to pay tax if you give shares as a gift to your husband, wife, civil partner or a charity. Print entire guide. The tax rate you pay on dividends that exceed the allowance depends on your income tax band, which you can work out by adding your total dividend income to your other income:. If you already fill in a self-assessment tax return , you include the dividend details on it.
Find out more: How to fill in a tax return. We tell you about the deadlines at the bottom of this article: When does the tax year end? Your checklist. If so, the downside is you may need to pay capital gains tax. Note that it is the profit that incurs the tax not the price you sell your investment for. Find out more: Guide to capital gains tax. There are two ways to earn money from shares. The first is if the company grows and becomes more valuable, then your piece of the company will be worth more.
When selling shares, if you make a profit, you have to pay capital gains tax. The second way is if the company in which you are invested in pays its shareholders a little bit of money, called a dividend, out of its profits each year. Any money that you receive from your investments will be added to all your other types of income, including wages, personal pensions and rental income, and taxed at the bracket that is applicable to you:.
These financial products allow your money to grow free from the grasp of the taxman, so you can buy and sell shares without even worrying about the tax-free thresholds. Find out more in our pensions guide.
Receive regular articles and guides from our experts to help you make smarter financial decisions. By entering your details, you acknowledge that your information will be used in accordance with our privacy policy. You can unsubscribe at any time. Searching Money Mentor. See all results. Article How are shares taxed? By Georgie Frost updated June 28, Capital gains tax Stamp duty Self-assessment. In this article, we explain three main taxes your need to watch out for when buying and selling shares, including: Stamp duty Dividend tax Capital gains tax What is a share?
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