Capital Gain Events Flashcards
1
Q
A1
A
Disposal of a CGT asset
2
Q
Disposal of a CGT asset
A
A1
3
Q
B1
A
Use and enjoyment before title passes
4
Q
Use and enjoyment before title passes
A
B1
5
Q
C1
A
Loss or destruction of a CGT asset
6
Q
Loss or destruction of a CGT asset
A
C1
7
Q
C2
A
Cancellation, surrender and similar endings
8
Q
Cancellation, surrender and similar endings
A
C2
9
Q
C3
A
End of an option to acquire shares etc
10
Q
End of an option to acquire shares etc
A
C3
11
Q
D1
A
Creating contractual or other rights
12
Q
Creating contractual or other rights
A
D1
13
Q
D2
A
Granting an option
14
Q
Granting an option
A
D2
15
Q
D3
A
Granting a right to income from mining
16
Q
Granting a right to income from mining
A
D3
17
Q
D4
A
Entering into a conservation covenant
18
Q
Entering into a conservation covenant
A
D4
19
Q
E1
A
Creating a trust over a CGT asset
20
Q
Creating a trust over a CGT asset
A
E1
21
Q
E2
A
Transferring a CGT asset to a trust
22
Q
Transferring a CGT asset to a trust
A
E2
23
Q
E3
A
Converting a trust to a unit trust
24
Q
Converting a trust to a unit trust
A
E3
25
E4
Capital payment for trust interest
26
Capital payment for trust interest
E4
27
E5
Beneficiary becoming entitled to a trust asset
28
Beneficiary becoming entitled to a trust asset
E5
29
E6
Disposal to a beneficiary to end an income right
30
Disposal to a beneficiary to end an income right
E6
31
E7
Disposal to a beneficiary to end capital interest
32
Disposal to a beneficiary to end capital interest
E7
33
E8
Disposal by a beneficiary of capital interest
34
Disposal by a beneficiary of capital interest
E8
35
E9
Creating a trust over future property
36
Creating a trust over future property
E9
37
E10
Annual cost base reduction exceeds cost base of interest in attribution managed investment trust (AMIT)
38
Annual cost base reduction exceeds cost base of interest in attribution managed investment trust (AMIT)
E10
39
F1
Granting a lease
40
Granting a lease
F1
41
F2
Granting a long-term lease
42
Granting a long-term lease
F2
43
F3
Lessor pays lessee to get lease changed
44
Lessor pays lessee to get lease changed
F3
45
F4
Lessee receives payment for changing a lease
46
Lessee receives payment for changing a lease
F4
47
F5
Lessor receives payment for changing a lease
48
Lessor receives payment for changing a lease
F5
49
G1
Capital payment for shares
50
Capital payment for shares
G1
51
G3
Liquidator or administrator declares shares or financial instruments worthless
52
Liquidator or administrator declares shares or financial instruments worthless
G3
53
H1
Forfeiture of a deposit
54
Forfeiture of a deposit
H1
55
H2
Receipt for an event relating to a CGT asset
56
Receipt for an event relating to a CGT asset
H2
57
I1
Individual or company stops being an Australian resident
58
Individual or company stops being an Australian resident
I1
59
I2
Trust stops being a resident trust
60
Trust stops being a resident trust
I2
61
J1
Company stops being a member of a wholly owned group after a rollover
62
Company stops being a member of a wholly owned group after a rollover
J1
63
J2
Change in relation to a replacement asset or improved asset after a rollover under Subdivision 152-E
64
Change in relation to a replacement asset or improved asset after a rollover under Subdivision 152-E
J2
65
J4
Trust failing to cease to exist after rollover under Subdivision 124-N
66
Trust failing to cease to exist after rollover under Subdivision 124-N
J4
67
J5
Failure to acquire a replacement asset and to incur fourth element expenditure after a rollover under Subdivision 152E
68
Failure to acquire a replacement asset and to incur fourth element expenditure after a rollover under Subdivision 152E
J5
69
J6
Cost of acquisition of replacement asset or amount of fourth element expenditure, or both, not sufficient to cover disregarded capital gain
70
Cost of acquisition of replacement asset or amount of fourth element expenditure, or both, not sufficient to cover disregarded capital gain
J6
71
K1
As the result of an incoming international transfer of a Kyoto unit or an Australian carbon credit unit from your foreign account of your nominees foreign account, you start to hold the unit as a registered emissions unit
72
As the result of an incoming international transfer of a Kyoto unit or an Australian carbon credit unit from your foreign account of your nominees foreign account, you start to hold the unit as a registered emissions unit
K1
73
K2
Bankrupt pays an amount in relation to debt
74
Bankrupt pays an amount in relation to debt
K2
75
K3
Asset passing to a tax-advantaged entity
76
Asset passing to a tax-advantaged entity
K3
77
K4
CGT asset starts being trading stock
78
CGT asset starts being trading stock
K4
79
K5
Special capital loss from a collectable that has fallen in market value
80
Special capital loss from a collectable that has fallen in market value
K5
81
K6
Pre-CGT shares or trust interest
82
Pre-CGT shares or trust interest
K6
83
K7
Balancing adjustment occurs for a depreciating asset that you used for purposes other than taxable purposes
84
Balancing adjustment occurs for a depreciating asset that you used for purposes other than taxable purposes
K7
85
K8
Direct value shifts affecting your equity or loan interests in a company or trust
86
Direct value shifts affecting your equity or loan interests in a company or trust
K8
87
K9
Entitlement to receive payment of a carried interest
88
Entitlement to receive payment of a carried interest
K9
89
K10
You make a forex realisation gain as a result of forex realisation event 2 and item 1 of the table in subsection 775-70(1) applies
90
You make a forex realisation gain as a result of forex realisation event 2 and item 1 of the table in subsection 775-70(1) applies
K10
91
K11
You make a forex realisation loss as a result of forex realisation event 2 and item 1 of the table in subsection 775-75(1) applies
92
You make a forex realisation loss as a result of forex realisation event 2 and item 1 of the table in subsection 775-75(1) applies
K11
93
K12
Foreign hybrid loss exposure adjustment
94
Foreign hybrid loss exposure adjustment
K12
95
L1
Reduction under section 705-57 in tax cost setting amount of assets of entity becoming subsidiary member of consolidated group or multiple entry consolidated (MEC) group
96
Reduction under section 705-57 in tax cost setting amount of assets of entity becoming subsidiary member of consolidated group or multiple entry consolidated (MEC) group
L1
97
L2
Amount remaining after step 3A (of the table in section 705-60) of joining ‘allocable cost amount’ is negative
98
Amount remaining after step 3A (of the table in section 705-60) of joining ‘allocable cost amount’ is negative
L2
99
L3
Tax cost setting amounts for retained cost base assets exceed joining ‘allocable cost amount’
100
Tax cost setting amounts for retained cost base assets exceed joining ‘allocable cost amount’
L3
101
L4
No reset cost base assets against which to apply excess of net ‘allocable cost amount’ on joining
102
No reset cost base assets against which to apply excess of net ‘allocable cost amount’ on joining
L4
103
L5
Amount remaining after step 4 (of the table in section 711-20) of leaving ‘allocable cost amount’ is negative
104
Amount remaining after step 4 (of the table in section 711-20) of leaving ‘allocable cost amount’ is negative
L5
105
L6
Error in calculation of tax cost setting amount for joining entity’s assets
106
Error in calculation of tax cost setting amount for joining entity’s assets
L6
107
L8
Reduction in tax cost setting amount for reset cost base assets on joining cannot be allocated
108
Reduction in tax cost setting amount for reset cost base assets on joining cannot be allocated
L8
