Capital gains tax is decided by choices you make before you sell, not by anything that happens at tax time. A capital gains tax accountant works out what you’ll owe on a sale of property, shares, crypto or a business, and whether timing, exemptions or concessions can legally reduce it. Crest Accountants has provided CGT advice to Gold Coast individuals, investors and business owners from Burleigh Heads for over 45 years. The single most valuable thing we can tell you: call us before the contract is signed, because afterwards most of the options are gone.
When you need a CGT accountant
CGT applies when you dispose of an asset acquired after 19 September 1985: an investment property, shares, managed fund units, cryptocurrency, or your business. The gain is added to your taxable income in the year the CGT event happens, which can push you into a higher tax bracket in a single year.
Here’s the detail that surprises people every June. For a property sale, the CGT event is generally the contract date, not settlement. Sign on 28 June and the gain lands in this financial year, even if settlement happens in September. Sign a week later and it lands in the next one. For anyone whose income is about to change, that week can be worth real money.
If you’re weighing up a sale, restructuring assets, dealing with an inherited property or separating from a partner, that’s the moment to get CGT advice. Not after.
Thinking About Selling?
With CGT, timing is everything. The contract date, not settlement, decides which financial year your gain lands in. Talk to us before you exchange contracts so the gain falls in the year that works best for you.
How we help you legally reduce capital gains tax
There is no trick to CGT. There is a set of legitimate exemptions, discounts and concessions, and the work is knowing which ones fit your facts and what evidence is needed to claim them. Depending on your situation, we look at:
The 50% CGT discount
Individuals and trusts that hold an asset for more than 12 months generally halve the taxable gain. Selling at month 11 instead of month 13 can double the tax.
Main residence exemption and the six-year rule
Your home is usually CGT-free, and a former home that’s rented out can stay exempt for up to six years in some circumstances. The eligibility details matter, and we check them rather than assume.
Small business CGT concessions
Business owners selling an active business or business asset may qualify for concessions that reduce a gain dramatically, sometimes to nil. The eligibility tests are strict and worth checking years before a planned sale.
Capital losses
Current and carried-forward losses offset gains. We make sure prior-year losses haven’t been forgotten in old returns.
Cost base reconstruction
- Your gain is calculated on more than the purchase price: stamp duty, legal fees, agent commissions and certain improvement and holding costs can all increase the cost base and shrink the gain, if records support them.
These rules reflect current law. The 2026-27 Federal Budget includes proposed changes to the CGT system from 1 July 2027, including replacing the 50% discount with an indexation method and introducing a minimum tax on gains. These measures are not yet law and may change before implementation.
CGT on property, shares and crypto
Investment property
The big-ticket area for Gold Coast clients. We handle gains on rentals and holiday units, partial exemptions where a home was rented for part of the ownership period, and the interaction between depreciation claimed and the cost base. Inherited property has its own rules, and they’re kinder than most people expect when handled correctly.
Shares and managed funds
Parcel selection, dividend reinvestment plans and corporate actions like mergers and demergers all complicate the numbers. We reconstruct holdings across brokers and registries so each parcel’s gain is right.
Cryptocurrency
The ATO treats crypto as a CGT asset and receives data from Australian exchanges. Every disposal counts, including swapping one coin for another, not just cashing out to dollars. We work from your exchange records to calculate positions accurately, including for high-volume traders.
Why choose Crest for CGT advice
Crest Accountants is a Gold Coast firm operating since 1973, with accountants who handle CGT events across property, shares, crypto and business sales as everyday work. We’re based at 5-7 Prosper Crescent, Burleigh Heads and act for clients across Burleigh Heads, Miami, Mermaid Beach, Palm Beach, Varsity Lakes, Broadbeach and the wider Gold Coast. Calculations are done in-house, quoted up front, and explained in plain English, including the parts you won’t like.
Planning a sale? Book a free consultation with Crest Accountants on 07 5538 0999 or via our enquiry form before you sign anything.
General advice disclaimer
The information on this page is general in nature and does not take into account your personal objectives, financial situation or needs. It is not financial product advice. Tax laws change regularly, and this page reflects current Australian tax legislation and publicly announced proposals as at July 2026. Before acting, seek advice from a registered tax agent or licensed financial adviser about your circumstances.
Frequently Asked Questions
No. Your net capital gain is added to your other taxable income and taxed at your marginal rate in the year of the CGT event. That’s why a large gain can cost more than people expect: it can push part of your income into a higher bracket. Timing a sale into a lower-income year is one of the few levers available, and it has to be pulled before contracts are exchanged.
Generally on the contract date, not settlement. A contract signed 28 June 2026 puts the gain in your 2025-26 return even if settlement is months away. This catches out sellers every year, particularly around EOFY. If your income differs between the two years, the contract date is worth planning deliberately.
Usually no, thanks to the main residence exemption. Exceptions arise if you used the home to produce income (renting a room, running a business from it), if it sits on more than two hectares, or if you owned it through certain structures. Partial CGT can apply in those cases, so it’s worth a check before you assume the sale is tax-free.
Possibly, for up to six years under the absence rule, provided you don’t treat another property as your main residence for the same period. Move back in and out again and the clock can reset. The rule is genuinely useful but the conditions are precise, so bring your dates and we’ll map them against the requirements.
Australian exchanges report customer data to the ATO under its data-matching program, and that information is matched against lodged returns. Unreported disposals, including coin-to-coin swaps, are a known audit trigger. If you have prior-year crypto activity that never made it into a return, a voluntary amendment generally lands far better than an ATO letter.
Not at all. Many of our CGT clients are local to Burleigh Heads and the southern Gold Coast, and you’re welcome to meet us at the office. But CGT advice depends on your documents and dates rather than where you live, so we work with clients right across Australia by phone and video. Wherever you are, the first consultation is free.
Purchase and sale contracts, settlement statements, stamp duty and legal costs, agent fees, records of capital improvements, and for shares or crypto, trade histories and registry statements. CGT records should be kept for at least five years after the relevant sale. Missing paperwork can often be reconstructed, but every gap risks a higher taxable gain.
Get the CGT position clear before you commit.
Book a free consultation with Crest Accountants on 07 5538 0999 or send an enquiry through the form.
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