Capital gains refer to the profit you make from selling an asset for more than you paid for it. This can apply to various types of assets, including stocks, cryptocurrencies, DEFI, NFTs, real estate, and other investments. There are two main types of capital gains:
1. Short-term capital gains: These occur when you sell an asset that you've held for one year or less. They are typically taxed at your ordinary income tax rate.
2. Long-term capital gains: These occur when you sell an asset that you've held for more than one year. They are usually taxed at a lower rate, which varies depending on your income level.
In YS Accounting, we can help you with your Capital Gains on your Tax Return, please feel free to schedule an appointment with us on our website at www.taxbne.com.au/.
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