CGT event
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Time of event
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Capital gain
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Capital loss
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K2 Bankrupt pays an amount in relation to debt
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when payment is made
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no capital gain
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that part of the payment that relates to the denied part of a net capital loss
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K3 Asset passing to a tax-advantaged entity
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when an individual dies
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market value of the asset at death less its cost base
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reduced cost base of the asset less that market value
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K4 CGT asset starts being trading stock
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when the asset starts being trading stock
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market value of asset less its cost base
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reduced cost base of asset less that market value
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K5 Special capital loss from a collectable that has fallen in market value
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when CGT event A1, C2 or E8 happens to shares in the company, or an interest in the trust, that owns the collectable
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no capital gain
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market value of the shares or interest (as if the collectable had not fallen in market value) less the capital proceeds from CGT event A1, C2 or E8
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K6 Pre-CGT shares or trust interest
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when another CGT event involving the shares or interest happens
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capital proceeds from the shares or trust interest that are attributable to post-CGT assets owned by the company or trust, less the assets' cost bases
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no capital loss
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K7 Balancing adjustment occurs for a depreciating asset that you used for purposes other than taxable purposes
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when the balancing adjustment event occurs
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termination value less cost times fraction
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cost less termination value times fraction
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K8 Direct value shifts affecting your equity or loan interests in a company or trust
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the decrease time for the interests
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the capital gain worked out under section 725-365
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no capital loss
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K9 Entitlement to receive payment of a carried interest
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when you become entitled to receive the payment
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capital proceeds from the entitlement
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no capital loss
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K10 You make a forex realisation gain as a result of forex realisation event 2 and item 1 of the table in subsection 775-70(1) applies
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when the forex realisation event happens
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equal to the forex realisation gain
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no capital loss
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K11 You make a forex realisation loss as a result of forex realisation event 2 and item 1 of the table in subsection 775-70(1) applies
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when the forex realisation event happens
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no capital gain
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equal to the forex realisation loss
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