AU Tax - CGT Discount method does not apply for assets owned exactly 1 year
Has anyone else experienced this in Xero Tax? Where you have an asset that is sold exactly 12 months after it was purchased, Xero Tax believes that you can use the CGT Discount Method. However the legislation indicatess that the asset must be owned for at least 1 year and 1 day before it becomes eligible to use the CGT Discount method.
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Steven Podlich
shared this idea
Hi Steven, thanks for flagging this. We appreciate you sharing your feedback. We have reviewed your feedback and we recommend that you raise a case with the Xero support team. They can investigate the specific calculation behaviour you’re experiencing and clarify how Xero Tax handles CGT discount eligibility.
