• Cessation of residency

    CGT event

    Time of event

    Capital gain

    Capital loss

    I1

    Individual or company stops being an Australian resident

    when the individual or company stops being an Australian resident

    for each CGT asset the individual or company owns, its market value less its cost base

    for each CGT asset the individual or company owns, its reduced cost base less its market value

    I2

    Trust stops being a resident trust

    when the trust ceases to be a resident trust for CGT purposes

    for each CGT asset the trustee owns, its market value less its cost base

    for each CGT asset the trustee owns, its reduced cost base less its market value

      Last modified: 09 May 2016QC 17157