We’re thinking of building one for use by clients. But we don’t want to if there is already one in existence – we’d go down the licensing track if there was. Does anybody know of one?
Scott – 1300 660033
Hi depreciator,
Don’t know if this will help; but I came across it some time ago when I had to try and work out what kind of $$$ I would be up for in CGT, and if was helpful to me. It does NOT offer the complete picture, but is a good starting point. Give it a go; and see what you think, plus it will tell you which calculation is best Indexation or Discounted.
http://www.cch.com.au/cgi-bin/cgt00isapi.dll/
Cheers,
Jo
Thanks Monopoly,
I’ll check that one out.
Essentially what the calculator will be is a list of everything conceivable thing that can add to the cost base of a property on aquisition, and everything that can be deducted from the sale price on disposal.
We deal with hundreds (literally) of accountants and none that I’ve contacted have a definitive list.
I’ll bet there are loads of people paying too much CGT because there are things they or their accountants aren’t aware of.
I’ve got a little CGT issue myself so I have a vested personal interest in finding every possible thing that will reduce my gain.
Anybody else come across a CGT calculator?
Scott
Hi Scott,
Sincerely hope you get it up and running – I would expect that it will be a challenging exercise due to the ‘complexities’ associated with CGT.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Scott,
No problem.
Would LOVE to see your calculator when you’re done!!! Sounds like it will be very comprehensive [book] thus IMO “awesome”!!!!!
Sadly, your calculator will be too late to help me!!!! I “had” a (not so little) CGT issue which I paid for just recently, and hopefully all deductions that could have been applied were, but who knows, maybe your calculator may show some loop-holes that my accountant missed [bawl]….in which case, I’ll go back and slap him!!!! (Just kidding!!!)
All the best, as Derek said, CGT is a complex (and IMO “ugly”) process!!![shocked]
Cheers,
Jo
This would be great I would be interested in using it.
A little accountant online would be good.
I thought of a thing a few months ago, where I wished I could enter in the senario of any finacials, the same a visiting a credited (very good accountant!). And that person tells you all the best savings and structures that you should use.
But very much to complicated for me and also I’m not an accountant so don’t know a lot about it. Same as a lot of ideas I conceive for online. But there just to complicated to bring to fuition.
About a CGT Calculator: Long as it’s simple and easy to use. And able to educate and learn things in simple language as your going along. Would be better for more masses using it.
Jaffasoft,
It’s got to be simple enough for me to use. I’ve accepted the fact that computers are probably here to stay, but I have no affinity with them.Derek,
If we end up doing it, I’ll run it past you.I need to work out whether the investment will pay off. Haven’t really worked on the revenue model yet. The aim would be to get it into the accounting fraternity.
Scott
Yep, there are some in existing accountancy software packages. The accountants I have spoken to lament that they aren’t comprehensive enough.
And yes, we would envisage use by the general public as well. Of course, we’d have to charge a nominal fee – perhaps $20 per use. This may not be acceptable to the general public.
It’s all part of the research.
Thanks,
Scott
A licence to use the program would be the go.
That’s generally the way it’s done on the Internet, you download the program and you can trial it for a curtain amount of days for free. And if your satisfied it works well, you then are given the option to buy a license to use the software for a 12 months or 6 months!
You simply enter in the ‘password’ and it unlockes for a curtain amount of time. But that’s just the security and payment system and distrubution of the software!
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