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  • Time of acquisition


    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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    The time a CGT asset is acquired is important for four reasons:

    • CGT generally does not apply to assets acquired before 20 September 1985 (pre-CGT assets)
    • different cost base rules apply to assets acquired at different times – for example, non-capital costs are not included in the cost base of an asset acquired before 21 August 1991
    • it determines whether the cost base can be indexed for inflation and the extent of that indexation (see chapter 2), and
    • it determines whether you are eligible for the CGT discount – for example, one requirement is that you need to have owned a CGT asset for at least 12 months (see chapter 2).
    Last modified: 04 Mar 2016QC 27527