If your interim distribution is more than your cost base before the interim distribution is paid then a capital gain arises. Otherwise, your cost base is reduced by the amount of your interim distribution, but not below zero.
If the capital proceeds received in respect of your final distribution out of the Common Fund are more than the cost base just before this time, this will result in a capital gain being made from the CGT event. If the capital proceeds are less than the cost base, a capital loss arises.
For each income year, capital gains and losses are calculated to work out whether you have a net capital gain or net capital loss in that year. If you have a net capital gain, this is added to your taxable income for that year. A net capital loss is not counted as part of your taxable income but may be offset against net capital gains in future years.