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012-020 - Capital Gains Tax - Introduction

For the Capital Gains Tax (CGT) provisions to be attracted, there must be a disposal, or deemed disposal, of an asset. The asset must have been acquired (or deemed to have been acquired) by the taxpayer after 19th September 1985. The disposal of the asset must occur after 19th September 1985. This ...Read more
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For the Capital Gains Tax (CGT) provisions to be attracted, there must be a disposal, or deemed disposal, of an asset. The asset must have been acquired (or deemed to have been acquired) by the taxpayer after 19th September 1985. The disposal of the asset must occur after 19th September 1985.

This paper summarises how the Capital Gains Tax Rules apply, especially relating to small business taxpayers. The paper is presented in nineteen pages, including addendums to assist in the calculation of a capital gain.

Commentary is presented under the following headings:

  • Capital Gains Tax (CGT) - The Basics
  • What CGT Applies To
  • Applies To Residents And Non-Residents
  • Exemptions From Capital Gains Tax
  • Motor Vehicle Exemption
  • Cost Basis
  • Capital Gains Tax Date
  • Indexation Only Applicable To Assets Acquired Prior To 21st September 1999
  • Indexation Rates
  • Record Keeping Is Important
  • Fines
  • Business Expenditure
  • Property Acquisition
  • Share Investor’s Records
  • Records Have To Be Kept A Long Time
  • Records Help You Determine Sales Priority
  • Records Help Effective Management
  • Plan Whose Name To Invest In
  • Capital Losses
  • 50% Capital Gains Tax Discount For Individuals
  • 33.1/3% Capital Gains Tax Discount For Superannuation Funds
  • Capital Gains Tax Discount For Trusts
  • Capital Gains Tax Discount Not Available For Companies
  • Twelve Month Agreement Null And Void For CGT Discount
  • Calculation Of Capital Gain Or Capital Gain Discount