Did a Capital Gains Tax Event happen?

Did you sell or give away an investment in shares or real property?

CGT Events are what "trigger" capital gains tax. There are a lots of different situations that trigger capital gains tax (see CGT Events), but by far the most common one is selling an asset.

When you sell an investment, the capital gains tax provisions are triggered. Unless there is an capital gains tax exemption or a rollover provision, you will need to calculate your capital gain. You should seek advice from a professional tax accountant in order to determine when your CGT Event took place.

The date of sale is the date in which you undertake to sell the property, not when the sale is finalised. So for real estate, the CGT Event happens when you exchange, not when you settle. It is important to remember this when you are determining which year the capital gains tax event occurred in.