Checklist · Taxation
CGT event and cost base worksheet
A worksheet for the CGT event, the time it happens, and the five cost-base elements, using the Australian Taxation Office pages on CGT events and the cost base.
- Kind
- Checklist. Steps or checks to work through and tick off.
- Where it applies
- Australia
- AI use
- Yellow You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at
- 22 October 2026
- Status
- Maintained. Checked on 22 October 2026 against the 2 authorities it cites, for Australia.
- Version
- 1
- Source
- Written for this library
When to use it
Use when an asset may have been disposed of, lost or destroyed, and a capital gain or loss has to be framed before anyone calculates the tax. It does not produce the figure that goes on a return.
Used for these tasks
Each task page says how far AI may help with the task and what the lawyer must review.
How AI may be used
AI may sort settlement statements and invoices into the five elements and record the contract date; the lawyer decides the CGT event and which amounts stay out of the cost base.
AI may
- Enter the contract date, the settlement date and the amounts on invoices into the element table
- Flag an amount that looks deductible, a recoupment, or a GST credit
- Point to the event series on the Australian Taxation Office table when more than one event might apply
AI must not
- Must not choose the CGT event
- Must not apply indexation, a discount, a main-residence exemption or a rollover
- Must not put a capital gain on a return or in a tax advice letter
The lawyer checks
- The event is the one that best matches, and the time of the event is the contract date where there is a contract
- Third-element costs are left out of a capital loss, out of collectables and personal-use assets, and out of an asset acquired before 21 August 1991
- Deductible costs, GST input tax credits of a registered business, and recouped expenditure are removed as the cost-base page states
- The 2026–27 budget changes are not applied to Tax Time 2026
Method: how the Green, Yellow and Red levels are decided. This is guidance for planning, not legal advice.
Read the full text
The full text is available after you log in. It is free. When you log in you can:
- read the whole precedent, with its drafting notes beside it;
- copy it, or download it as a Word file or Markdown;
- add it to your firm’s knowledge base, so colleagues can find it;
- let the AI tools you connect read it from that knowledge base.
The summary, the law it rests on and the AI-use guidance above stay public. Privacy.
More in Taxation
- Division 7A complying loan agreement (private company loan to a shareholder or associate), with minimum yearly repayment schedule
- ATO general interest charge remission application
- Letter of tax advice with confidence rating and penalty position
- IRS Form 2848 power of attorney and declaration of representative
- Letter responding to an ATO formal notice to give information or produce documents (with privilege claim)
- Client information request and facts declaration for a private ruling application or return position
- ATO shortfall interest charge remission application
- Taxable sale screen for GST
- IRS Form 8821 tax information authorization
- Director penalty notice: 21-day remission checklist
- ATO failure to lodge penalty remission application
- Private ruling application (ATO approved form): completion guide
- Tax due diligence request list and issues register (share or business acquisition of an Australian private company)
- ATO audit or review: document production index and legal professional privilege schedule (ATO LPP Protocol particulars)
- Employee share scheme deferred taxing point checklist
- Objection to an ATO assessment or decision: completion guide and grounds structure
- Amendment period diary for an individual or a sole trader
- Voluntary disclosure to the ATO: completion guide and penalty-reduction checklist
- Verification checklist for AI-assisted tax research, advice and objections
- Client notice on AI use with tax records and tax file numbers