Capital Gains Tax

Capital Gains Tax (CGT) is the tax that you pay on any capital gain. It's not a separate tax, just part of your income tax.

The most common way of making a capital gain or loss is by selling assets, such as property or vehicles, which is a CGT event. Examples of a CGT event are when:

• you sell or give away an asset to someone else
• an asset you own is lost or destroyed
• shares you own are cancelled, surrendered or redeemed
• you stop being an Australian resident
• a company makes a payment (not a dividend to you as a shareholder).

If your home is a place of business, your business might have capital gains tax implications when you sell it.