| Disclaimer You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of private advice
Authorisation Number: 1052480572716
Date of advice: 28 November 2025
Ruling
Subject: Capital gains tax
Question
For capital gains tax (CGT) purposes, is the time of disposal of the property the date the contract of sale was entered into?
Answer
Yes. If there is a contract of sale, the CGT event happens when you enter into the contract. For example, if you sell a house, the CGT event happens on the date of the contract, not when you settle. In your case, a contract was signed on DD MM YY to sell your property located at XXXX. Therefore, the CGT event can be reported in the XXXX financial year.
Further information about capital gains tax and sale or disposal of assets can be found by searching ato.gov.au for 'QC 66016'.
This ruling applies for the following period:
DD MM YY
The scheme commenced on:
DD MM YY
Relevant facts and circumstances
Your main business activity is XXXX.
On DD MM YY, a contract was signed to sell one of your properties located at XXXX.
Your intention was to settle the property before the end of the XXXX financial year.
The purchaser's bank requested conditions to be met which caused a delay of XX days.
The property settled on DD MM YY.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 104-10
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
