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Certain CGT vents do not qualify for the CGT discount. For example, if a capital gain is made from a CGT event that creates a new asset - such as a payment for entering into a restrictive covenant - the 12-month ownership rule cannot be satisfied and the taxpayer is not eligible for the CGT discount.
Certain capital gains are specifically excluded from being a discount capital gain. For example, if you make a capital gain from a CGT event happening to a CGT asset that you acquired more than 12 months before the CGT event, under an agreement entered into within that 12-month period, the capital gain does not qualify for the CGT discount.
Last modified: 18 Sep 2009QC 18323