Finance
|Step 1 | Did a CGT EVENT happen in the income year? See Div 104. |
| |If yes, then go to step 2. |
|Step 2 |Did the CGT event involve a CGT ASSET, or was there a CAPITAL RECEIPT? |
| |See Div 108 for CGT assets ( If so, what kind of CGT asset is it? |
| |See Div 109 for the timing of acquisition ( pre-CGT or post-CGT asset? |
| |If yes, then go to step 3. |
|Step 3 | Does an EXEMPTION apply? |
| |Exempt assets |
| |Collectables: acquisition cost $500 or less: s 118-10(1) |
| |Personal use assets: acquisition cost $10,000 or less: s 118-10(3) |
| |Cars, motorcycles or similar vehicles: s118-5(a) |
| |Main residence exemption Subdivision 118-B |
| |15 year exemption for Small Business Subdivision 152-B |
| |If no exemptions apply, then go to step 4. |
|Step 4 | Can the
| |If yes, then go to step 2. |
|Step 2 |Did the CGT event involve a CGT ASSET, or was there a CAPITAL RECEIPT? |
| |See Div 108 for CGT assets ( If so, what kind of CGT asset is it? |
| |See Div 109 for the timing of acquisition ( pre-CGT or post-CGT asset? |
| |If yes, then go to step 3. |
|Step 3 | Does an EXEMPTION apply? |
| |Exempt assets |
| |Collectables: acquisition cost $500 or less: s 118-10(1) |
| |Personal use assets: acquisition cost $10,000 or less: s 118-10(3) |
| |Cars, motorcycles or similar vehicles: s118-5(a) |
| |Main residence exemption Subdivision 118-B |
| |15 year exemption for Small Business Subdivision 152-B |
| |If no exemptions apply, then go to step 4. |
|Step 4 | Can the