http://www.nab.com.au/personal/learn/managing-your-debts/capital-...

http://www.nab.com.au/personal/learn/managing-your-debts/capital-gains-tax

Capital gains is taxed at your income tax rate.

50% only applies to a discount.

i.e. 30% income tax rate with shares held more than 12 months is taxed at 15% and less than 12 months taxed at 30%.

Companies have no discount.

SMSF are taxed at 15% and receive a 5% discount to 10% for 12 month retention of shares.

If your income is in a higher bracket individually the 50% discount us applied.
i.e. 40% income tax rate with 50% discount is 20%. Etc