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Golden Fleece

3,512 Posts.

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17/05/23

10:50

Post #: 67816650
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Originally posted by hollandpark: ↑

Sorry correction to that calculation. I'm on a rush-hour Japanese train

Should be:

End value - starting value + withdrawals - after tax contributions = gain for the year

(End value - $3M)/ End value = % y

Extra tax payable = % y x gain for the year x 15%

So assuming no contributions or withdrawals your extra tax would be

300,000/3M = .1

tax = .1 x .15 x 300,000 = $4,500

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Originally posted by Hittman: ↑

As explained above.

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Ok

Two things

Firstly what is the .1 at the beginning of the formula

Secondly Why on 15%, I thought it was going to be 30%
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