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  • Selling an asset and other CGT events

    When you sell or otherwise dispose of an asset it's called a capital gains tax (CGT) event. This is the point at which you make a capital gain or loss. There are other CGT events, such as the loss or destruction of a CGT asset or creating contractual or other rights.

    You need to know which type of CGT event applies in your situation. This is because it affects how you calculate your capital gain or loss and when you include it in your net capital gain or net capital loss.

    For some CGT events, such as exchanging an asset for a replacement asset, you can defer or roll over any capital gain you make until another CGT event (such as selling the replacement asset).

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    Last modified: 15 Aug 2018QC 22153