Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS

Division 109 - Acquisition of CGT assets

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Guide to Division 109

SECTION 109-1 What this Division is about

This Division sets out the ways in which you can acquire a CGT asset and the time of acquisition.

The time of acquisition is important for indexation, and for the exemption of assets acquired before 20 September 1985.

Generally, you acquire a CGT asset when you become its owner. You can also acquire a CGT asset:

• as a result of a CGT event happening: see section 109-5 ; or

• in other circumstances: see section 109-10 .

This Division also directs you to special acquisition rules in other Divisions.

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