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> Individuals > Dealing with disasters > In detail > Damaged or destroyed property   
 

Involuntary disposal of a CGT asset

 
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Introduction

If your capital gains tax (CGT) asset is lost, destroyed or compulsorily acquired, a rollover (deferring the capital gain on the lost, destroyed or compulsorily acquired asset) may be available.

Generally, there is no CGT obligation for assets acquired before 20 September 1985 (pre-CGT).

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The government has announced that it will extend CGT relief to property owners affected by natural disaster.

For more information see No capital gains tax for properties in natural disaster land swap programs.

Last Modified: Wednesday, 30 January 2013
 
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