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    Special rules for depreciating assets

    Special rules apply when working out a capital gain or capital loss for a depreciating asset. A capital gain or capital loss will only arise to the extent that a depreciating asset is used for a non-taxable purpose, such as private use.

    The capital gain or capital loss is calculated according to the uniform capital allowance (UCA) provisions. See the Guide to depreciating assets for more detail. Those provisions also treat as income or allow as a deduction any gain or loss from a depreciating asset to the extent that it was used for a taxable purpose. Do not use the Capital gain or capital loss worksheet for these assets.

    Note: When you have calculated your capital gain or capital loss for each capital gains tax (CGT) event using a Capital gain or capital loss worksheet, or a different tool, transfer all capital gains or capital losses to the CGT summary worksheet.

      Last modified: 21 Jun 2016QC 16983