Hi,
just need help with capital gains tax on farmland. I have 1200 acres of farm and I lease out the land only to the farmer next door. I have just discovered that if I sell I have to pay capital gains tax on the property. I have owned it for 13 years. How do I figure out how much I have to pay. Say as an example I bought it for $465000 and sell it for $1,500,000 how much do I pay.
Hi,
you need to get a tailored advice from a registered tax agent.
Basics:
$1,500,000-$465,000=$1,035,000 Capital Gain
This gain may be eligible for 50% discount so $517,500 will be the taxable amount.
This amount will be added to your other taxable income in the year of sale and the total tax will be worked out on that.
This is why it is not possible to tell you here how much $$$ tax you will pay. You may be eligible for other CGT concessions and exemptions, but it has to be planned out for you.
Contact a registered tax agent
Best wishes
Hi,
you need to get a tailored advice from a registered tax agent.
Basics:
$1,500,000-$465,000=$1,035,000 Capital Gain
This gain may be eligible for 50% discount so $517,500 will be the taxable amount.
This amount will be added to your other taxable income in the year of sale and the total tax will be worked out on that.
This is why it is not possible to tell you here how much $$$ tax you will pay. You may be eligible for other CGT concessions and exemptions, but it has to be planned out for you.
Contact a registered tax agent
Best wishes
21 May 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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