• Other CGT events

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    CGT event

    Time of event

    Capital gain

    Capital loss

    K1

    Partial realisation of an intellectual property right

    when a contract is entered into or, if none, when partial realisation happens

    capital proceeds from partial realisation less the cost base of the item of intellectual property

    no capital loss

    CGT event K1 does not apply to partial realisations on or after 1 July 2001.

    K2

    Bankrupt pays an amount in relation to debt

    when payment is made

    no capital gain

    that part of the payment that relates to the denied part of a net capital loss

    K3

    Asset passing to a tax-advantaged entity

    when an individual dies

    market value of the asset at death less its cost base

    reduced cost base of the asset less that market value

    K4

    CGT asset starts being trading stock

    when the asset starts being trading stock

    market value of asset less its cost base

    reduced cost base of asset less that market value

    K5

    Special capital loss from a collectable that has fallen in market value

    when CGT event A1, C2 or E8 happens to shares in the company, or an interest in the trust, that owns the collectable

    no capital gain

    market value of the shares or interest (as if the collectable had not fallen in market value) less the capital proceeds from CGT event A1, C2 or E8

    K6

    Pre-CGT shares or trust interest

    when another CGT event involving the shares or interest happens

    capital proceeds from the shares or trust interest that are attributable to a post-CGT asset owned by the company or trust, less the assets' cost bases

    no capital loss

    K7

    Balancing adjustment occurs for a depreciating asset that you used for purposes other than taxable purposes

    when the balancing adjustment event occurs

    termination value less cost times fraction

    cost less termination value times fraction

    Last modified: 06 Oct 2009QC 27417