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Asset registers

Last updated 24 May 2020

You can choose to enter information from your CGT records into an asset register. If you keep an asset register, you may be able to discard records that you might otherwise need to keep for a long time.

If you choose to keep an asset register, transfer the following information to it from the records you generally need to keep for CGT purposes:

  • the date the asset was acquired
  • the cost of the asset
  • a description, amount and date for each cost associated with the purchase of the asset (for example, stamp duty and legal fees)
  • the date the CGT event happened to the asset, and
  • the capital proceeds received when the CGT event happened.

This information must be certified by a registered tax agent or a person approved by the Commissioner.

If you use an asset register, you must keep the documents from which you have transferred the information for five years from the date the relevant asset register entry is certified. You must keep the asset register entries for five years from the date the related CGT event happens. Keep the asset register for a longer period if you need to substantiate any carried forward net capital losses - for five years after any CGT event where you have applied any capital loss against capital gains.

For more information about asset registers and who can certify them, see Taxation Ruling TR 2002/10 - Capital gains tax: asset register.