| 15-year exemption - capital gains tax concession for small business |
| This concession may exempt a capital gain from a business asset that you have owned for at least 15 years. |
| 50% active asset reduction - capital gains tax concession for small business |
| This concession allows you to reduce the capital gain arising from a business asset (an active asset) by 50%. |
| Acquiring and owning CGT assets |
| When you acquire a CGT asset, start keeping records immediately because you might have to pay tax on the asset in the future. Your records will help ensure you don't pay more tax than necessary. If you own the asset jointly with someone else, you'll need to establish each owner's share. |
| Advanced guide to capital gains tax concessions for small business 2011-12 |
| This guide provides detailed information about the capital gains tax (CGT) concessions available to small business and is current for the 2011-12 income year. NAT 3359. |
| Are you in the business of renovating properties? |
| Information on property renovating as a business. |
| Australian Foundation Investment Company Limited (AFIC): bonus share plan |
| Impact on resident individual shareholders, including capital gains tax consequences and examples. |
| Basic capital gains tax issues for legal practitioners |
| Questions and answers to assist legal practitioners in providing advice to their clients about capital gains tax consequences of some common legal transactions. |
| Bonus shares |
| Explains the capital gains tax rules that apply if you dispose of any bonus shares you received on or after 20 September 1985. |
| Bonus units |
| If you have received bonus units on or after 20 September 1985, you may have to pay capital gains tax if you make a capital gain when you dispose of them. |
| Calculating a capital loss |
| If the capital proceeds you receive from the disposal of a capital gains tax asset are less than the reduced cost base, you may have made a capital loss. |
| Calculating the cost base of real estate |
| To calculate a capital gain or capital loss, you need to know the cost base of your asset. Some special rules apply to calculating the cost base or reduced cost base of real estate. |
| Capital gains in Australia |
| The way capital gains tax applies to foreign residents has recently changed. If you are a foreign resident and you made a capital gain before 12 December 2006 on disposal of an asset that had the necessary connection with Australia, the gain is generally taxed. |
| Capital gains made by trusts |
| If you are entitled to a share in a capital gain made by a trust, you need to know how to declare the amounts on your income tax return. The term 'trust' includes managed funds such as property and share trusts. |
| Capital gains tax - overview |
| Capital gains tax (CGT) is the tax you pay on a capital gain. It is not a separate tax, just part of your income tax. Selling assets such as real estate, shares or managed fund investments is the most common way you make a capital gain (or capital loss). |
| Capital gains tax (CGT) and going overseas |
| Information about tax consequences of going overseas, including changes to the CGT laws. |
| Capital gains tax (CGT) concessions for small business - more changes for the 2007-09 years |
| Explains the changes to the CGT small business concessions resulting from amendments enacted in June 2009. The changes have various start dates. |
| Capital gains tax (CGT) concessions for small business - overview |
| Information about the CGT concessions available to small business. This information is current for the 2008-09 and later years. |
| Capital gains tax (CGT) rollover: statutory licence holders |
| This fact sheet provides information to statutory licence holders. Depending on how your licence ends and is replaced you may be able to defer all or part of your CGT obligations and rollover all or part of the cost base of your original licence. |
| Capital gains tax and depreciating assets |
| Explains the capital gains tax treatment of depreciating assets including an overview of the uniform capital allowance system. |
| Capital gains tax checklist |
| Use this checklist to identify situations that may have capital gains tax (CGT) implications for you. |
| Capital gains tax listed investment companies concession |
| If a listed investment company (LIC) pays a dividend to you that includes a LIC capital gains amount, you may be entitled to an income tax deduction. |
| Capital gains tax update 2011-12 income year |
| Update on the capital gains tax developments during the 2011-12 income year. Current at 30 June 2012. |
| Capital gains tax: CGT and the uniform capital allowance system - additional technical information |
| Additional technical information on the interaction between the uniform capital allowance system and capital gains tax. |
| CGT and business restructures - share or interest sale facilities for foreign interest holders in a restructure |
| Describes share or interest sale facilities for foreign interest holders in a restructure. |
| CGT and debt forgiveness |
| Describes what is meant by debt forgiveness and how it applies to capital gains tax. |
| CGT changes to the market value substitution rule for interests in widely held entities |
| This fact sheet explains amendments to the market value substitution rule in that it no longer applies when capital gains tax (CGT) event C2 occurs (for example where shares in a company are cancelled) in relation to a share in a widely held company or a unit in a widely held unit trust. |
| CGT events affecting real estate |
| Capital gains tax events affecting real estate can include entering into a terms contract, granting a right to reside, granting, renewing or extending an option, exercising an option or entering into a conservation covenant. |
| CGT events involving leases |
| A capital gains tax event may occur when you grant, renew, extend or vary a lease on real estate or other property. |
| CGT exemptions, rollovers and concessions |
| A number of assets are exempt from CGT, including your home, car, and depreciating assets used solely for taxable purposes. If CGT applies, you may be able to discount your capital gain by 50%. There are a number of other exemptions, rollovers and concessions. |
| CGT on foreign residents, temporary residents and changing residency |
| Information about CGT consequences on becoming or ceasing to be a resident, and on foreign residents and temporary residents. |
| CGT small business concessions tool |
| This tool will help tax agents to determine if an entity satisfies the basic conditions and is eligible for the capital gains tax (CGT) concessions that are available for small business. |
| Changes to CGT concessions for small business 2006-07 |
| Changes to the small business capital gains tax (CGT) concessions for 2006-07 and later income years. |
| Changes to the capital gains tax (CGT) concessions for small business 2007-08 |
| This fact sheet explains the changes to the CGT small business concessions for the 2007-08 and later income years. |
| Choices you make under capital gains tax |
| There are a number of provisions in the capital gains tax (CGT) laws that allow you to make a choice. This information outlines some of the more common CGT choices for individuals and explains how to make a choice under the CGT rules. |
| Claiming losses from the disposal of investments |
| This page contains information on the tax treatment of losses made when disposing of your investments. |
| Comparison of changes to small business CGT concessions since 2006 |
| Compares the changes in the law for the 2006-07, 2007-08 and 2008-09 years. |
| Compulsory acquisitions of part of your main residence |
| Changes that may affect you if part of your main residence was compulsorily acquired after 1 July 2004. |
| Convertible notes |
| Describes what convertible notes are and outlines the capital gains tax consequences if these notes are converted into shares or units. |
| Creation of a new trust - Statement of Principles August 2001 |
| This statement is no longer current. It set out the principles the Australian Taxation Office would apply in determining when changes to a trust resulted in the creation of a new trust estate. |
| Deceased estate and capital gains tax |
| Explains the special rules that apply to the calculation of any capital gain or capital loss made from a deceased estate. |
| Demergers |
| If you owned interests in a company or a fixed trust that is the head entity of a demerger group and you received new interests in the demerged entity, you will need to be aware of the capital gains tax consequences. |
| Demergers calculator |
| This calculator helps shareholders work out the capital gains tax consequences under a demerger, including the BHP Billiton, CSR, Sonic Healthcare, Mincor, WMC and Mayne Group demergers. |
| Demutualisation of insurance companies |
| Outlines the possible capital gains tax rules that may be applicable to a policy that is held in an insurance company that demutualises. |
| Dividend reinvestment plans |
| Explains the consequences of shareholders participating in dividend reinvestment plans. |
| Foreign exchange (forex): disposal price of CGT asset denominated in foreign currency |
| An example of what happens when the disposal price of a capital gains tax (CGT) asset is denominated in a foreign currency. NAT 10628 |
| Gifts of shares valued $5,000 or less |
| This fact sheet discusses gifts of listed shares valued at $5,000 or less that you acquired 12 months or more before donating them and whether you can claim tax deductions for this type of gift. |
| Guide to capital gains tax 2011-12 |
| This guide explains capital gains tax for individuals who have sold their main residence, for individuals with complex capital gains tax obligations and for companies, trusts and funds. NAT 4151. |
| Guide to capital gains tax concessions for small business 2011 -12 |
| This guide provides general information about the capital gains tax (CGT) concessions available for small business and is current for the 2011-12 income year. NAT 8384. |
| Identifying when shares or units were acquired |
| It is important to know when shares were acquired for the purpose of calculating any capital gain or loss. |
| Including termination and exit fees in cost base calculations |
| Termination and exit fees can now be included in the calculation of the cost base and the reduced cost base when a CGT asset ends. |
| Income from illegal activities: losses and outgoings |
| You cannot claim an income tax deduction for income earned through illegal activity. Also you cannot claim capital losses or reduced capital gains. |
| Inheriting a dwelling |
| If you inherit a dwelling, or part-ownership of a dwelling, from a deceased person, and later dispose of it, you need to be aware of the capital gains tax rules which may apply. |
| Introduction to capital gains tax |
| Capital gains tax (CGT) is the tax you pay on a capital gain. It is not a separate tax, just part of your income tax. Selling assets such as real estate, shares or managed fund investments is the most common way you make a capital gain (or capital loss). |
| Involuntary disposal of a CGT asset |
| If your capital gains tax (CGT) asset is lost, destroyed or compulsorily acquired, a rollover (deferring the capital gain on the lost or destroyed asset) may be available. |
| Is the dwelling your main residence? |
| In general, your main residence (your home) is exempt from capital gains tax (CGT). |
| Key events for Australian shareholders 2002-03 |
| A listing of the capital gains tax implications of certain actions by Australian companies in 2002-03. |
| Key events for Australian shareholders 2003-04 |
| A listing of the capital gains tax implications of certain actions by Australian companies in 2003-04. |
| Key events for Australian shareholders 2004-05 |
| A listing of the capital gains tax implications of certain actions by Australian companies in 2004-05. |
| Key events for Australian shareholders 2005-06 |
| A listing of the capital gains tax implications of certain actions by Australian companies in 2005-06. |
| Key events for Australian shareholders 2006-07 |
| A listing of the capital gains tax implications of certain actions by Australian companies in 2006-07. |
| Key events for Australian shareholders 2007-08 |
| A listing of the capital gains tax implications of certain actions by Australian companies in 2007-08. |
| Key events for Australian shareholders 2008-09 |
| A listing of the capital gains tax implications of certain actions by Australian companies in 2008-09. |
| Key events for Australian shareholders 2009-10 |
| A listing of the capital gains tax implications of certain actions by Australian companies in 2009-10. |
| Key events for Australian shareholders 2010-11 |
| Contains summaries and links to documents about large company transactions which may impact a significant number of individual taxpayers. |
| Key events for Australian shareholders 2011-12 |
| Contains summaries and links to documents about large company transactions which may impact a significant number of individual taxpayers. |
| Major capital improvements to a dwelling |
| Assets purchased before 20 September 1985 are generally excluded from the capital gains tax rules. However, if you make major capital improvements to such an asset, you may be liable for capital gains tax when you dispose of it. |
| Managed investment schemes associated with Mark Letten |
| Guidance for investors in the Letten Schemes regarding the tax treatment of distributions from the Common Fund. |
| Managed investment trusts: election into capital treatment |
| This fact sheet gives an overview of the managed investment trust (MIT) capital treatment rules, including eligibility requirements and how to make an election. |
| MAp Airports International Limited - exchange of shares for units |
| Impact on resident individual shareholders, including capital gains tax consequences and examples. |
| Market valuation for tax purposes |
| This guide is intended to provide assistance to taxpayers and their advisers (including valuers) on the processes to establish a market value for taxation purposes. |
| Marriage or relationship breakdown and transferring of assets |
| If you transfer an asset to your spouse (or if you have an asset transferred to you) as a result of the breakdown of your marriage or relationship, capital gains tax rollover may apply. |
| Moving into a dwelling |
| When you move into a dwelling, you may be able to treat it as your main residence (your home) for capital gains tax purposes. Work out the date on which a dwelling becomes your main residence. |
| NIB holdings limited (nib) - 2011 return of capital (capital return) |
| A fact sheet on the tax consequences for Australian resident shareholders who received a return of capital on their NIB shares on 21 July 2011. |
| Non-assessable capital payments from a trust |
| If you receive a non-assessable capital payment as the beneficiary of a trust, it may affect your liability for capital gains tax, now or in the future. The term trust includes managed funds such as property and share trusts. |
| Non-assessable payments |
| Explains how the cost base of shares or units for capital gains tax calculations may need to be adjusted if you receive a non-assessable payment without disposing of your shares or units. |
| Personal investors guide to capital gains tax 2011-12 |
| If you sold shares or units in a unit trust, or received a distribution of a capital gain from a managed fund, this guide explains your tax obligations. NAT 4152-6.2012. |
| Property exemption tool |
| If you had sole or joint ownership of a property that you sold or are going to sell (or otherwise dispose of), this tool will help you work out what portion of your capital gain is exempt from capital gains tax. |
| Retirement exemption - capital gains tax concession for small business |
| This concession can exempt a capital gain on a business asset, up to a lifetime limit of $500,000. The retirement exemption allows you to provide for your retirement, but you don't need to be retiring or retired to benefit. |
| Rights or options to acquire shares or units |
| Outlines the capital gains tax implications of rights or options to acquire additional shares or units. |
| Roll over - capital gains tax concession for small business |
| This concession allows you to defer a capital gain from the disposal of a business asset for two years. You can defer the capital gain for longer than two years if you acquire a replacement asset or make a capital improvement to an existing asset. |
| Selling an asset and other 'CGT events' |
| Selling an asset or giving it to someone else is called a 'CGT event'. This is the point at which you make a capital gain or capital loss. There are a number of CGT events, for example, if a managed fund or other trust distributes a capital gain to you, it's a CGT event. |
| Selling your shares and being paid by instalments |
| Tax consequences of accepting an offer to buy shares where the consideration is paid by instalments. |
| Separate assets for CGT purposes |
| In some circumstances, a building or structure attached to land, or another improvement to an existing asset, may be treated as a separate asset for capital gains tax purposes. |
| Share buy-backs |
| Disposing of shares back to the company under a buy-back arrangement may result in a capital gain or capital loss. |
| Shares and other securities that become worthless |
| General advice for Australian resident investors about claiming capital losses on shares and securities that are declared worthless. |
| Shares and units |
| You may have to pay tax on any capital gain you make on shares or units when a CGT event happens, such as when you sell them. A CGT event also occurs when you redeem units in a managed fund by switching them from one fund to another. |
| Shares in a company in liquidation or administration |
| Explains a shareholders rights when they have shares in a company who has been placed into liquidation or administration. |
| Stapled securities and capital gains tax |
| Stapled securities are created when two or more different things are contractually bound together so that they cannot be sold separately. If you own stapled securities, you need to be aware of the possible capital gains tax implications. |
| Step by step guide to capital gains |
| This document gives a step by step understanding of capital gains tax. |
| Subdividing and amalgamating land |
| If you subdivide or amalgamate parcels of land which you may later sell, you need to be aware of the capital gains tax implications. |
| Summary of capital gains tax events |
| A summary of the different events that give rise to a capital gain or loss. |
| Takeovers and mergers, scrip-for-scrip rollover |
| If a company in which you own shares is taken over or merges with another company, you may have a CGT obligation if you are required to dispose of your existing shares. |
| Tax smart investing: what Australian property investors need to know |
| Tips to help you be a tax-smart property investor. (NAT 12917-06.2010) |
| Tax smart investing: what Australians investing in overseas property need to know |
| Tips to help you be a tax-smart overseas property investor. (NAT 14233-06.2010) |
| Tax smart investing: what share investors need to know |
| Tips to help you be a tax-smart share investor. (NAT 14125-03.2012) |
| Telecom Corporation of New Zealand Limited demerger (2011-12) |
| Impact on resident individual shareholders, including capital gains tax consequences and examples. |
| The discount method of calculating your capital gain |
| You can use the discount method to calculate the capital gain on most assets owned for 12 months or more. |
| The indexation method of calculating your capital gain |
| You can use the indexation method to calculate the capital gain on an asset you acquired before 11.45am on 21 September 1999 and which you owned for 12 months or more. |
| The 'other' method of calculating your capital gain |
| Use the 'other' method to calculate your capital gain if you bought and sold your asset within 12 months. You also use this method where the capital gains tax event does not involve an asset. |
| Transferring real estate to family or friends |
| Explains the capital gains tax implications of transferring real estate to your family or friends. |
| Treating a dwelling as your main residence after you move out |
| In some situations, you can choose to have a dwelling treated as your main residence (your home) for capital gains tax purposes, even though you no longer live in it. |
| Treating land as your main residence |
| Your main residence (your home) is generally exempt from capital gains tax. If you build a dwelling on land you already own, the land does not qualify for exemption until the dwelling becomes your main residence. |
| Trust cloning |
| Taxation Ruling TR 2006/4 deals with the CGT exception that applies when an asset is transferred between two trusts that have the same beneficiaries and terms - commonly referred to as trust 'cloning'. Since issuing this ruling, the ATO has become aware of further examples where trusts, particularly discretionary trusts, may not be 'the same' and may therefore not be eligible for the exception. |
| Trust resettlements - AIFRS related amendments to trust deeds |
| This statement is no longer current. It provided guidance on when amendments to a trust deed to address issues raised by the introduction of the Australian equivalents to the International Financial Reporting Standards (AIFRS) caused a resettlement of the trust. |
| Using the capital gain or capital loss worksheet |
| This worksheet helps you calculate a capital gain or capital loss for each capital gains tax (CGT) asset or any other CGT event. You can use it to compare the result of using the indexation method with the discount method. |
| Using your home to produce income |
| Your home is generally exempt from capital gains tax. However, if you used it, or part of it, to produce income it may not be fully exempt. Income can include rent or the proceeds of a business. |
| UXC Limited - 2011-12 return of capital |
| A fact sheet on the tax consequences for Australian resident shareholders who received a return of capital on their UXC shares on 7 December 2011. |
| Water entitlement reduction or replacement - CGT rollover |
| If you replace, transform or reduce your water entitlement you may be able to rollover any capital gain you make. |
| What are capital proceeds? |
| Capital proceeds are what you receive, or are entitled to receive, as a result of a CGT event. In some cases, even if you receive nothing in exchange for a CGT asset, you are taken to have received the market value of that asset. |
| What is an ownership interest? |
| For capital gains tax purposes, the definition of ownership interest depends on the type of property. |
| What is the cost base? |
| How to calculate the cost base of a capital gains tax asset. |
| When your spouse or children live in a different home to you |
| Your main residence (your home) is generally exempt from capital gains tax, but this exemption may be reduced if you and your spouse or children have different homes. |
| Woolworths Limited - creating a new stapled security 2012 |
| Outlines the tax consequences of participation in the 2012 Woolworths Limited restructure. This information will assist individual investors to correctly calculate capital gains and or cost base adjustments. |
| Working out your capital gain/loss |
| For most CGT events, you work out your capital gain or capital loss by subtracting your 'cost base' (what it cost you to get the asset) from your 'capital proceeds' (what you received when you disposed of it). |
| Your home and other real estate |
| Most real estate is subject to CGT. This includes vacant land, business premises, rental properties, holiday houses and hobby farms. Your 'main residence' (family home) is exempt from CGT unless you rented it out for a time or it's on more than 2 hectares of land. |