NET CAPITAL GAINS (SA2)
Net capital gains details for selected regions are featured in this publication for the first time. A capital gain is the profit that results from the sale of a capital asset, where the sale price exceeds the purchase price and attracts capital gains tax. Conversely, a capital loss can arise if proceeds from a sale are less than the original purchase price. Capital gains cover the sale of assets such as: land, units in a unit trust and other investment properties, company shares, licenses, rights, options and leases; various collectables (paintings, antiques, coins, jewellery and similar) with an original market value of over $500; and personal-use assets such as boats, furniture and electrical goods with an original value of over $10,000. The sale of a person's primary dwelling of residence is usually exempt from capital gains tax. For more information, see the Explanatory Notes, paragraphs 11, 12 and 13.
The table below shows the top 10 SA2s with the highest amount of net capital gains in 2012-13. Double Bay - Bellevue Hill was the most prominent region with 1,476 net capital gains earners (8.6% of all earners in the SA2) receiving a total of $158.3 million in net capital gains. Also prominent from a NSW perspective was Mosman with 1,688 net capital gains earners receiving a total of $85.7 million.
For Victoria, the SA2s of Brighton and Toorak recorded the two highest amounts for net capital gains - with $141.4 million and $108.8 million, respectively.
The top SA2 in Queensland was Hope Island which had substantially higher net capital gains ($72.1 million) than the total amount recorded by the second ranked Eimeo - Rural View ($34.7 million).
Leading SA2s in other jurisdictions included Booragoon in Western Australia ($99.2 million), Sandy Bay in Tasmania ($14.0 million) and Larrakeyah in the Northern Territory ($26.1 million).
In South Australia the top two SA2s were St Peters - Marden and Glenelg (SA) recording relatively similar net capital gains amounts ($22.6 million and $22.2 million respectively).
The top two SA2s in the Australian Capital Territory also had relatively similar net capital gains amounts. Earners in Nicholls reported $16.6 million, compared with $14.2m for Red Hill (ACT).
Table 1. NET CAPITAL GAINS - Top 10 SA2s, 2012-13
Net capital gains recipients
Percentage of all earners reporting net capital gains
Net capital gains total
Net capital gains median
|NSW||Double Bay - Bellevue Hill|
|NSW||Rose Bay - Vaucluse - Watsons Bay|
|WA||Nedlands - Dalkeith - Crawley|