CGT Questions

What are CGT Assets?
Capital Gains Tax on Real Estate
Did a CGT Event happen?
Is there a gain or a loss?
Are there a CGT exemptions?
CGT Main Residence Exemption
Timing Issues
Main Residence Usage
Are there any CGT concessions?
Are there any rollover provisions?
How do I calculate capital gains tax?
Capital Gains Tax Cost Base

Topics

CGT Rulings
Self Managed Super Funds

Australia

The Buzz car insurance

Capital Gains Tax Cost Base

Your capital gains tax cost base consists of the following:

  • the original purchase price
  • any costs associated with purchasing it
  • any costs associated with selling it (e.g. agents' commissions & legal fees)
  • any depreciation you have claimed on the asset
  • Keeping track of the cost base can be done by maintaining records, which you are legally obliged to do, and using accounting software such as Myob AccountRight to keep track of your expenses associated with the asset.