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  • What assets are not included?



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    Some interests in connected entities

    The following interests in connected entities are excluded from the net value of assets:

    • shares, units or other interests (apart from debt) that you hold in an entity connected with you or your affiliate (this is because the net value of the CGT assets of the connected entity is already included in the test), and
    • any assets of an affiliate or an entity connected with an affiliate unless they are used, or held ready for use, in a business carried on by you or by an entity connected with you (but not if the entity is connected with you only through your affiliate).
    Assets solely for personal use, superannuation assets

    If you are an individual, you should also disregard the following assets when working out the net value of your CGT assets:

    • assets being used solely for your personal use and enjoyment, or that of your affiliate
    • your own home, to the extent that you use it for private purposes (also, if your only other use is some incidental income-producing use, exclude your home from the net asset value test)
    • rights to amounts payable out of a superannuation fund or an approved deposit fund
    • rights to an asset of a superannuation fund or an approved deposit fund, and
    • insurance policies on your life.
    Last modified: 30 Jun 2009QC 27964