INCOME TAX ASSESSMENT ACT 1997 - SECT 100.35 What is a capital gain or loss?

INCOME TAX ASSESSMENT ACT 1997 - SECT 100.35

    For most CGT events:

•   You make a capital gain if you receive (or are entitled to receive) capital amounts from the CGT event which exceed your total costs associated with that event.

•   You make a capital loss if your total costs associated with the CGT event exceed the capital amounts you receive (or are entitled to receive) from the event.