Tax thresholds, offsets, returns and the government payments that affect household budgets.
4 terms in this topic
Capital gains tax (CGT) is the income tax you pay on the net profit from selling or disposing of an asset, added to your income rather than charged separately.
Read definitionFranking credits are tax credits attached to Australian dividends that pass on company tax already paid, so shareholders are not taxed twice on the same profit.
Read definitionNegative gearing is when an investment bought with borrowed money costs more to hold than it earns, and the shortfall is deducted against your other income.
Read definitionThe tax-free threshold is the first $18,200 of income an Australian resident for tax purposes can earn in a financial year before income tax applies.
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