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Other CGT events

Last updated 3 March 2016

CGT event

Time of event

Capital gain

Capital loss

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 post-CGT assets 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

K8 Direct value shifts affecting your equity or loan interests in a company or trust

the decrease time for the interests

the capital gain worked out under section 725-365

no capital loss

K9 Entitlement to receive payment of a carried interest

when you become entitled to receive the payment

capital proceeds from the entitlement

no capital loss

K10 You make a forex realisation gain as a result of forex realisation event 2 and item 1 of the table in subsection 775-70(1) applies

when the forex realisation event happens

equal to the forex realisation gain

no capital loss

K11 You make a forex realisation loss as a result of forex realisation event 2 and item 1 of the table in subsection 775-70(1) applies

when the forex realisation event happens

no capital gain

equal to the forex realisation loss

QC27527