A capital gains tax is taxation on capital gains from assets such as stocks, bonds, precious metals or most likely real estate.
In New Zealand currently there is no general capital gains tax as a blanket system however income tax can and may be charged on the profits from the sale of property and land that was acquired with the purpose of resale. You may be required to pay tax on the sale of your family home, investment property or rental property if the Inland Revenue Department considers your to have made the transition from residential investor to dealer.
Use this IRD property decision tree to see if you will have to pay capital gains tax.
This New Zealand Capital Gains calculator (CGT Calculator) will help you calculate the amount of tax you are required to pay. We have included a scalable tax rate allowing you to personalise the calculation to the rate and prices that you have been instructed to pay tax on by Inland Revenue. To use this calculator simply change the information in the green cells to your infomation and then push update. The light blue cells will automatically calculate with the CGT information.
Asset Purchase Price in $:
Asset Sale Price in $:
Capital Gains Tax Rate in %:
Overall Capital Gains in %:
Capital Gains Tax Owed in $: