CGT exemptions, rollovers and concessions

Some assets are generally exempt from CGT, including your home and car, and depreciating assets used solely for taxable purposes.

Individuals and small businesses (excluding companies) can generally discount a capital gain by 50% if they hold the asset for more than one year.

In some circumstances a capital gain on a CGT event can be deferred (rolled over) until another CGT event happens.

If you own an active asset used in a small business (that is, those with an aggregated annual turnover under $2 million), you may be eligible for a range of concessions that allow you to disregard or defer some or all of a capital gain on the asset.

See also:

Last modified: 18 Feb 2016QC 22162