• Bringing a CGT asset into existence

    CGT event

    Time of event

    Capital gain

    Capital loss

    D1

    Creating contractual or other rights

    when the contract is entered into or the right is created

    capital proceeds from creating the right less the incidental costs of creating the right

    incidental costs of creating the right less the capital proceeds

    D2

    Granting an option

    when the option is granted

    capital proceeds from the grant less the expenditure to grant it

    expenditure to grant the option less the capital proceeds

    D3

    Granting a right to income from mining

    when the contract is entered into or, if none, when the right is granted

    capital proceeds from the grant of right less the expenditure to grant it

    expenditure to grant the right less the capital proceeds

    D4

    Entering into a conservation covenant

    when covenant is entered into

    capital proceeds from covenant less the cost base apportioned to the covenant

    reduced cost base apportioned to the covenant less the capital proceeds from covenant

      Last modified: 09 May 2016QC 17157