Capital Gain Tax Calculation
| Current Calculation | |
|---|---|
| Original Purchase Price: | $500,000 |
| Current Sold Price: | $900,000 |
| Profit: | $400,000 |
| Current Capital Gain Tax at 50%: | $100,000 |
| After June 25th 2024 | |
|---|---|
| Original Purchase Price: | $500,000 |
| Current Sold Price: | $900,000 |
| Profit: | $400,000 |
| New Capital Gain Tax (First $250,000): | $62,500 |
| Plus profit over $250,000: | $50,002.50 |
| Total Capital Gain Investment tax payable: | $112,502.50 |
| New Capital Gain Tax Rate if Property is under corporation | |
|---|---|
| Original Purchase Price: | $500,000 |
| Current Sold Price: | $900,000 |
| Profit: | $400,000 |
| Total Capital Gain Investment Tax: | $133,340 |