Difference between capital gain tax and company income tax?


(Blonde) #1

Hiya,

Is there any difference between capital gain tax and company income tax? And is company obliged to pay one or both of them if applicable?

Thanks


(demayn) #2

Capital gains tax is the difference between the purchased price & the sale price.
Company tax is a tax the company pays at the end of financial year on profit it has made after all taxable deductions/outgoings have been taken into account.
In Australia a company has to pay both