Purchased | Capital gain treatment |
Prior to 20 September 1985 | Capital gain disregarded |
From 20 September 1985 and prior to 11.45 am 21 September 1999 | Net capital gain calculated using indexed cost base method (indexation frozen at Sept 1999)10 OR Discount Method (see below) |
From 11.45 am 21 September 1999 | l Capital losses – may be used to reduce pre-discounted capital gains attributable to assets held for either less than or more than 12 months l Assets held less than 12 months – gain is calculated by deducting cost base from proceeds l Discount Method (Assets held 12+ months) – net capital gain may be discounted by 50%11 (individuals or trusts)12 or 33 1/3% (complying super funds) |
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