Income Tax Assessment Act 1997
You can make a *capital gain or *capital loss if and only if a *CGT event happens. The gain or loss is made at the time of the event.
The full list of CGT events is in section 104-5 .
You cannot make a capital loss from a CGT event that happens to your original interests during a trust restructuring period if you choose a roll-over under Subdivision 124-N .
The capital loss may be affected if the CGT asset was owned by a member of a demerger group just before a demerger: see section 125-170 .
Under subsection 230-310(4) gains and losses are taken to arise from a CGT event in particular circumstances.
This section does not apply in relation to the capital gain mentioned in paragraph 294-120(5)(b) of the Income Tax (Transitional Provisions) Act 1997 .
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