CGT Articles

  CGT Event I1   What is CGT Event I1? CGT Event I1 addresses a situation where an individual or company owns CGT assets and ceases being an Australian resident for taxation purposes.   The rules addressing the operation of CGT Event I1 are contained in section...

CGT Event G1   What is CGT Event G1? CGT Event G1 addresses a situation where a company makes certain payments to a shareholder. Specifically, the requirements are that: The company makes a payment to a shareholder in respect of share owned; and The payment is...

CGT Event K3 What is CGT Event K3?   CGT Event K3 addresses a situation where a taxpayer becomes deceased and a CGT asset that taxpayer owned passes to a beneficiary of the deceased estate, whereby the beneficiary is either:   An exempt entity, or   The trustee of a...

CGT Event A1   What is CGT Event A1? CGT event A1 addresses a situation where a taxpayer disposes of a CGT asset. A taxpayer disposes of a CGT asset where there is a change of ownership over the CGT asset. There will generally not be a disposal where the taxpayer...

CGT Event D1    What is CGT Event D1? CGT event D1 happens to a taxpayer if contractual or other legal or equitable rights are created in another entity. The rules relating to this event are contained primarily in section 104–35 of the Income Tax Assessment Act of...

Forex Tax   Foreign Exchange Gains and Losses A taxpayer may make a windfall gain or loss due to fluctuations in exchange rates between the time the tax law recognises an amount and the time of realisation or receipt or payment of an amount. The amount of the...

CGT Event E4   CGT event E4 establishes a trigger for capital gains tax in a situation where a payment is made by the trustee of a trust to a beneficiary of that trust (in respect of an interest that beneficiary holds in the trust) where any part of that amount is not...

Life interest – Right to reside   The tax consequences of creating a life interest and a right to reside are set out in Taxation Ruling 2006/14. In respect of life interests, it is worth understanding from the outset that there are two distinct forms of life...

Scrip for Scrip Rollover   The scrip for scrip rollover is designed to enable the exchange of shares in a company or units in a trust for other shares or units without capital gains tax being triggered. The exchange of units and shares between entities is a...