Commonwealth Consolidated Acts Commonwealth Consolidated ActsThis Division is a simplified outline of the capital gains and capital losses provisions, commonly referred to as capital gains tax ( CGT ). It will help you to understand your current liabilities, and to factor CGT into your on-going financial affairs.
Table of sections
100-5 Effect of this Division
100-10 Fundamentals of CGT
100-15 Overview of Steps 1 and 2
Step 1--Have you made a capital gain or a capital loss?
100-20 What events attract CGT?
100-25 What are CGT assets?
100-30 Does an exception or exemption apply?
100-33 Can there be a roll-over?
Step 2--Work out the amount of the capital gain or loss
100-35 What is a capital gain or loss?
100-40 What factors come into calculating a capital gain or loss?
100-45 How to calculate the capital gain or loss for most CGT events
Step 3--Work out your net capital gain or loss for the income year
100-50 How to work out your net capital gain or loss
100-55 How do you comply with CGT?
Keeping records for CGT purposes
100-60 Why keep records?
100-65 What records?
100-70 How long you need to keep records