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CGT, GST, FBT

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Where there's tax, there's acronyms.

Some of the most commonly used acronyms in the Australian tax system are GST – the goods and services tax; CGT – capital gains tax; and FBT – fringe benefits tax. The GST is something we all encounter on a daily basis – to find out more about the GST, read 'GST basics'.

If you own an asset, such as shares or art, and dispose of it, you will find the issue of CGT  rearing its head. Find out more about how CGT affects on you and your assets, here.

As an employee you might find yourself offered fringe benefits as part of your remuneration package. Fringe benefits are a type of non-salary (that is, non-monetary) payment, and no income tax needs to be paid on them ... but that doesn't mean they aren't subject to a fringe benefits tax – find out how FBT works and what it means for you, here.

Last reviewed 26/07/2012