INCOME TAX ASSESSMENT ACT 1997 - SECT 108.5 CGT assets
INCOME TAX ASSESSMENT ACT 1997 - SECT 108.5
CGT assets(b) a legal or equitable right that is not property.
(2) To avoid doubt, these are CGT assets :
(a) part of, or an interest in, an asset referred to in subsection (1);
(b) goodwill or an interest in it;
(c) an interest in an asset of a partnership;
(d) an interest in a partnership that is not covered by paragraph (c).
Note 1: Examples of CGT assets are:
• shares in a company and units in a unit trust;
• a right to enforce a contractual obligation;
Note 2: An asset is not a CGT asset if the asset was last acquired
before 26 June 1992 and was not an asset for the purposes of former
Part IIIA of the Income Tax Assessment Act 1936 : see section
108 - 5 of the Income Tax (Transitional Provisions) Act 1997 .