Understanding Capital Gains Tax

Capital Gains Tax (CGT) is a levy imposed on the profit earned from selling assets like stocks, real estate, or businesses. It applies when the selling price exceeds the purchase price, resulting in a gain. The tax rate varies based on the holding period: short-term capital gains are taxed at higher rates, while long-term capital gains benefit from lower rates or exemptions in some cases. Certain assets, such as inherited property or government bonds, may be exempt. Proper tax planning can help minimize CGT liabilities, making it essential for investors and property owners to understand its implications.

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