Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-1
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CAPITAL GAINS AND LOSSES: GENERAL TOPICS
Division 102
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Assessable income includes net capital gain
Guide to Division 102
SECTION 102-1
What this Division is about
View history note
Hide history noteThis Division tells you how to work out if you have made a net capital gain or a net capital loss for the income year. A net capital gain is included in your assessable income. However, you cannot deduct a net capital loss. (Amounts otherwise included in your assessable income do not form part of a net capital gain.)
Some or all of your net capital gain may be subject to a 30% minimum tax (see Division 119 ).
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