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Assets acquired after 13 May 1997

Last updated 3 March 2016

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.