If you acquired a CGT asset after 13 May 1997, the cost base of the asset also excludes:
- any expenditure in the first, fourth or fifth element that has been (or can be) claimed as an income tax deduction, or
- heritage conservation expenditure and landcare and water facilities expenditure incurred after 12 November 1998 that give rise to a tax offset.
Special rules apply for land and buildings. See Cost base adjustments for capital works deductions.