Tax and Structures
Capital gains tax
Taxing capital gains
Assessable assets bought on or after 20 September 1985 are subject to capital gains tax under the discount method. For assets held for less than 12 months the capital gain is included as assessable income (with some limited exceptions including where assets are acquired through a deceased estate or in the event of a marriage breakdown).
Assets that you hold for more than 12 months may only have part of the capital gain included in assessable income, depending on who owned the asset, as outlined on the following page.
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