ato logo
Search Suggestion:

Step 1 Types of CGT assets and CGT events

Last updated 18 February 2018

Certain capital gains and capital losses (that is, those from collectables and personal use assets) are treated differently when calculating your net capital gain or net capital loss. For explanations of these assets, see Does capital gains tax apply to you? in part A. Disregard capital losses from personal use assets and do not take them into account when working out your net capital gain. You can only use capital losses from collectables to reduce capital gains from collectables.

You need to separate the records of your CGT events into the following three categories:

  • those relating to collectables (for example, jewellery)
  • those relating to personal use assets (for example, a boat you use for recreation)
  • other CGT assets or CGT events, including distributions of capital gains from managed funds.