Capital Gains Tax on shares

I am looking for some general advice on options available to me.

In 1997 I received $8000 in shares when Colonial Mutual went public.
I have reinvested dividends and these shares are now worth approx. $80,000
I am considering selling them but am unsure of the Capital Gains implications. I have paid tax on the dividends over the past 4 years.

Any advise would be appreciated.

 

Hi Investor11

For your information, Capital Gains Tax (or CGT) is the tax paid on the growth of an investment when sold. This is different to the tax paid on dividends.

A CGT discount is available if you have owned the investment for more than 12 months. The discount applying to any capital gain made by an individual is 50%.

Reinvested dividends are used to purchase additional shares at new prices.

I recommend you seek advice from a professional.