• Other CGT events

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    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    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

    Last modified: 04 Mar 2016QC 27527