CGT event
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Time of event
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Capital gain
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Capital loss
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K1 - As the result of an incoming international transfer of a Kyoto unit or an Australian carbon credit unit from your foreign account of your nominees foreign account, you start to hold the unit as a registered emissions unit
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When you start to hold the unit as a registered emissions unit
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Market value of unit less its cost base
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Reduced cost base of the unit less its market value
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K2 - Bankrupt pays an amount in relation to debt
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When payment is made
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No capital gain
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That part of the payment that relates to the denied part of a net capital loss
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K3 - Asset passing to a tax-advantaged entity
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When an individual dies
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Market value of the asset at death less its cost base
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Reduced cost base of the asset less that market value
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K4 - CGT asset starts being trading stock
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When the asset starts being trading stock
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Market value of asset less its cost base
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Reduced cost base of the asset less that market value
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K5 - Special capital loss from a collectable that has fallen in market value
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When CGT event A1, C2 or E8 happens to shares in the company, or an interest in the trust, that owns the collectable
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No capital gain
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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
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K6 - Pre-CGT shares or trust interest
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When another CGT event involving the shares or interest happens
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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
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No capital loss
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K7 - Balancing adjustment occurs for a depreciating asset that you used for purposes other than taxable purposes
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When the balancing adjustment event occurs
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Termination value less cost times fraction
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Cost less termination value times fraction
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K8 - Direct value shifts affecting your equity or loan interests in a company or trust
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The decrease time for the interests
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Capital gain worked out under section 725-365
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No capital loss
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K9 - Entitlement to receive payment of a carried interest
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When you become entitled to receive the payment
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Capital proceeds from the entitlement
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No capital loss
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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
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When the forex realisation event happens
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Equal to the forex realisation gain
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No capital loss
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K11 - You make a forex realisation loss as a result of forex realisation event 2 and item 1 of the table in subsection 775-75(1) applies
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When the forex realisation event happens
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No capital gain
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Equal to the forex realisation loss
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K12 - Foreign hybrid loss exposure adjustment
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Just before the end of the income year
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No capital gain
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The amount stated in subsection 104-270(3)
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