• Capital gains

    You may make a capital gain or loss if you dispose of a business asset – such as your business premises, goodwill, or rights or licences – by way of sale, gift or transfer.

    You must include any net capital gain you made during the income year in your assessable income.

    Your net capital gain is your total capital gains for the year, less:

    • your total capital losses for the year or earlier years
    • any concessions you are eligible for.

    If you operate your business as a company or trust, you make a capital gain or loss if you sell or otherwise dispose of your shares in the company, or interest in the trust.

    Capital gains tax (CGT) generally doesn't apply to depreciating assets you use in your business, such as tools or motor vehicles.

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    Last modified: 13 Mar 2015QC 44445