Introduction to capital gains tax

Residency and CGT events

Australian residents make a capital gain or capital loss if a CGT event happens to any of their assets anywhere in the world.

Foreign residents make a capital gain or capital loss if a CGT event happens to an asset that is 'taxable Australian property'.

Before 12 December 2006 foreign residents made a capital gain or capital loss if their CGT asset had the 'necessary connection with Australia'.

Special CGT rules apply when you become or stop being a resident of Australia for tax purposes.

For more information, refer to: CGT on foreign residents, temporary residents and changing residency Capital gains in Australia.

Capital gains tax - home

Sections within Selling an asset and other 'CGT events'

• Types of CGT events
• Timing of a CGT event
• Compensation payments
• Residency and CGT events