A1 Disposal of a CGT asset

When the disposal contract is entered into
or, if none,
when the entity stops being the asset’s owner

The capital proceeds from disposal
less
the asset’s cost base

The asset’s reduced cost base
less
capital proceeds

B1 Use and enjoyment before title passes

When use of the CGT asset passes

The capital proceeds
less
the asset’s cost base

The asset’s reduced cost base
less
capital proceeds

C1 Loss or destruction of
a CGT asset

When compensation is first received
or, if none,
when the loss is discovered or destruction occurred

The capital proceeds
less
the asset’s cost base

The asset’s reduced cost base
less
capital proceeds

C2 Cancellation, surrender and similar endings

When the contract ending an asset is entered into
or, if none,
when an asset ends

The capital proceeds from the ending
less
the asset’s cost base

The asset’s reduced cost base
less
capital proceeds

C3 End of an option to acquire shares and so on

When the option ends

The capital proceeds from granting the option
less
expenditure in granting it

The expenditure in granting the option
less
capital proceeds

D1 Creating contractual or other rights

When the contract is entered into
or
the right is created

The capital proceeds from creating the right
less
incidental costs of creating the right

The incidental costs of creating the right
less
capital proceeds

D2 Granting an option

When the option is granted

The capital proceeds from the grant
less
expenditure to grant it

The expenditure to grant the option
less
capital proceeds

D3 Granting a right to income from mining

When the contract is entered into
or, if none,
when the right is granted

The capital proceeds from the grant of right
less
the expenditure to grant it

The expenditure to grant the right
less
capital proceeds

D4 Entering into a conservation covenant

When covenant is entered into

The capital proceeds from covenant
less
cost base apportioned to the covenant

The reduced cost base apportioned to the covenant less
capital proceeds from covenant

E1 Creating a trust over a CGT asset

When the trust is created

Capital proceeds from creating the trust
less
the asset’s cost base

The asset’s reduced cost base
less
capital proceeds

E2 Transferring a CGT asset to a trust

When the asset is transferred

Capital proceeds from the transfer
less
the asset’s cost base

The asset’s reduced cost base
less
capital proceeds

E3 Converting a trust to a unit trust

When the trust is converted

Market value of the asset at that time
less
its cost base

The asset’s reduced cost base
less
that market value

E4 Capital payment for trust interest

When the trustee makes the payment

Non-assessable part of the payment less
the cost base of the trust interest

No capital loss

E5 Beneficiary becoming entitled to a trust asset

When the beneficiary becomes absolutely entitled

For a trustee, market value of the CGT asset at that time
less
its cost base

For a beneficiary, that market value
less
the cost base of the beneficiary’s capital interest

For a trustee,
the reduced cost base of the CGT asset at that time
less
that market value

For a beneficiary,
the reduced cost base of the beneficiary’s capital interest
less
that market value

E6 Disposal to a beneficiary to end an income right

The time of the disposal

For a trustee, market value of the CGT asset at that time
less
its cost base

For a beneficiary, that market value
less
the cost base of the beneficiary’s right to income

For a trustee,
the reduced cost base of the CGT asset at that time
less
that market value

For a beneficiary,
the reduced cost base of the beneficiary’s right to income
less
that market value

E7 Disposal to a beneficiary to end capital interest

The time of the disposal

For a trustee,
market value of the CGT asset at that time
less
its cost base

For a beneficiary, that market value
less
the cost base of the beneficiary’s capital interest

For a trustee,
the reduced cost base of the CGT asset at that time
less
that market value

For a beneficiary,
the reduced cost base of the beneficiary’s capital interest
less
that market value

E8 Disposal by a beneficiary of capital interest

When the disposal contract is entered into or, if none,
when the beneficiary ceases to own the CGT asset

Capital proceeds
less
the appropriate proportion of the trust’s net assets

The appropriate proportion of the trust’s net assets
less
the capital proceeds

E9 Creating a trust over future property

When the entity makes an agreement

Market value of the property (as if it existed when the agreement was made)
less
incidental costs in making the agreement

The incidental costs in making the agreement
less
the market value of the property (as if it existed when the agreement was made)

E10 Annual cost base reduction exceeds cost base of interest in AMIT

When reduction happens

Excess of cost base reduction over cost base

No capital loss

F1 Granting a lease

For granting a lease, when the entity enters into the lease contract or, if none, at the start of the lease

For a lease renewal or extension, at the start of the renewal or extension

Capital proceeds
less
the expenditure on grant, renewal or extension

Expenditure on grant, renewal or extension
less
capital proceeds

F2 Granting a long-term lease

For granting a lease, when the lessor grants the lease

For a lease renewal or extension, at the start of the renewal or extension

Capital proceeds from the grant, renewal or extension
less
the cost base of the leased property

Reduced cost base of the leased property
less
the capital proceeds from the grant, renewal or extension

F3 Lessor pays lessee to get lease changed

When the lease term is varied or waived

No capital gain

Amount of expenditure to get lessee’s agreement

F4 Lessee receives payment for changing a lease

When the lease term is varied or waived

Capital proceeds
less
the cost base of lease

No capital loss

F5 Lessor receives payment for changing a lease

When the lease term is varied or waived

Capital proceeds less
expenditure for variation or waiver

Expenditure for variation or waiver
less
capital proceeds

G1 Capital payment for shares

When the company pays a non-assessable amount

Payment
less
cost base of shares

No capital loss

G3 Liquidator or administrator declares shares or financial instruments worthless

When declaration is made

No capital gain

Reduced cost base of shares
or financial instruments

H1 Forfeiture of a deposit

When the deposit is forfeited

Deposit
less
expenditure in connection with the prospective sale

Expenditure in Connection with the prospective sale
less
deposit

H2 Receipt for an event relating to a CGT asset

When the act, transaction or event occurred

Capital proceeds
less
incidental costs

Incidental costs
less
capital proceeds

I1 Individual or company stops being an Australian resident

When the individual or company stops being an Australian resident

For each CGT asset the person owns, its market value
less
its cost base

For each CGT asset the person owns, its reduced cost base
less
its market value

I2 Trust stops being a resident trust

When the trust ceases to be a resident trust for CGT purposes

For each CGT asset the trustee owns, its market value
less
its cost base

For each CGT asset the trustee owns, its reduced cost base
less
its market value

J1 Company stops being a member of a wholly owned group after a rollover

When the company stops being a member of a wholly owned group after a rollover

Market value of the asset at the time of the event
less
its cost base

Reduced cost base of the asset less that market value

J2 Change for replacement asset or improved asset after a rollover under Subdivision 152-E

when the change happens

The amount mentioned in subsection
104-185(5)

No capital loss

J4 Trust failing to cease to exist after rollover under Subdivision 124-N

when the failure to cease to exist happens

For a company, market value of the asset at the time the company acquired it
less
its cost base at that time

For a shareholder, market value of the share at the time the shareholder acquired it
less
its cost base at that time

For a company, reduced cost base of the asset at the time the company acquired it
less
its market value at that time

For a shareholder, reduced cost base of the share at the time the shareholder acquired it
less
its market value at that time

J5 Failure to acquire replacement asset and to incur fourth element expenditure after a rollover under Subdivision 152-E

At the end of the replacement asset period

The amount of the capital gain that you disregarded under Subdivision
152-E

No capital loss

J6 Cost of acquisition of replacement asset or amount of fourth element expenditure, or both, not sufficient to cover disregarded capital gain

At the end of the replacement asset period

The amount mentioned in subsection
104-198(3)

No capital loss

K2 Bankrupt pays an amount for 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 the 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

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 775-75(1) applies

When the forex realisation event happens

No capital gain

Equal to the forex realisation loss

K12 Foreign hybrid loss exposure adjustment

Just before the end of the income year

No capital gain

The amount stated in subsection
104-270(3)

L1 Reduction under section 705-57 in tax cost setting amount of assets of entity becoming subsidiary member of consolidated group or MEC group

Just after entity becomes subsidiary member

No capital gain

Amount of reduction

L2 Amount remaining after step 3A etc of ‘joining allocable cost amount' is negative

Just after entity becomes subsidiary member

Amount remaining

No capital loss

L3 Tax cost setting amounts for retained cost base assets exceed joining allocable cost amount

Just after entity becomes subsidiary member

Amount of excess

No capital loss

L4 No reset cost base assets against which to apply excess of net allocable cost amount on joining

Just after entity becomes subsidiary member

No capital gain

Amount of excess

L5 Amount remaining after step 4 of ‘leaving allocable cost amount' is negative

When entity ceases to be subsidiary member

Amount remaining

No capital loss

L6 Error in calculation of tax cost setting amount for joining entity’s assets

Start of the income year when the Commissioner becomes aware of the errors

The net overstated amount resulting from the errors, or
a portion of that amount

The net understated amount resulting from the errors, or
a portion of that amount

L8 Reduction in tax cost setting amount for reset cost base assets on joining cannot be allocated

Just after entity becomes subsidiary member

No capital gain

Amount of reduction that cannot be allocated