Capital gains tax

The slashing in half of capital gains tax has made growth shares an attractive proposition. If you hold onto shares for more than 12 months before you sell them and you are on the top marginal tax rate, your capital gains tax rate has dropped effectively from 48.5 per cent to 24.25 per cent.

When you are filing your tax return, you must include details on any capital gains or losses. Remember capital losses can only be offset against capital gains. Remember to keep all your documents. You need to have comprehensive records in order to calculate what you owe.