Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 100.1

This Division is a simplified outline of the capital gains and capital losses provisions, commonly referred to as capital gains tax ( CGT ). It will help you to understand your current liabilities, and to factor CGT into your on - going financial affairs.

Table of sections

100 - 5   Effect of this Division

100 - 10   Fundamentals of CGT

100 - 15   Overview of Steps 1 and 2

Step 1--Have you made a capital gain or a capital loss?

100 - 20   What events attract CGT?

100 - 25   What are CGT assets?

100 - 30   Does an exception or exemption apply?

100 - 33   Can there be a roll - over?

Step 2--Work out the amount of the capital gain or loss

100 - 35   What is a capital gain or loss?

100 - 40   What factors come into calculating a capital gain or loss?

100 - 45   How to calculate the capital gain or loss for most CGT events

Step 3--Work out your net capital gain or loss for the income year

100 - 50   How to work out your net capital gain or loss

100 - 55   How do you comply with CGT?

Keeping records for CGT purposes

100 - 60   Why keep records?

100 - 65   What records?

100 - 70   How long you need to keep records