Summary of capital gains tax events

End of a CGT asset

CGT event		Time of event	Capital gain	Capital loss
C1	Loss or destruction of a CGT asset	when compensation is first received or, if none, when the loss is discovered or destruction occurred	capital proceeds less the asset's cost base	asset's reduced cost base less capital proceeds
C2	Cancellation, surrender and similar endings	when the contract ending an asset is entered into or, if none, when an asset ends	capital proceeds from the ending less the asset's cost base	asset's reduced cost base less the capital proceeds
C3	End of an option to acquire shares and so on	when the option ends	capital proceeds from granting the option less the expenditure in granting it	expenditure in granting the option less the capital proceeds