---
title: "CGT event and cost base worksheet"
url: "https://ailawframework.com/precedents/taxation/cgt-event-and-cost-base-worksheet"
type: "precedent"
site: "AI Law Framework"
id: "a26-cgt-event-and-cost-base-worksheet"
area_id: "A26"
kind: "checklist"
ai_level: "yellow"
version: 1
task_ids: ["A26-T1-R7"]
law_stated_as_at: "2026-10-22"
---

# 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.

Canonical page: https://ailawframework.com/precedents/taxation/cgt-event-and-cost-base-worksheet  
Law stated as at: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

- Kind: Checklist. Steps or checks to work through and tick off.
- Practice area: [Taxation](https://ailawframework.com/precedents/taxation.md)
- Jurisdictions: Australia
- AI level: Yellow. You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at: 2026-10-22
- Status: Maintained. Checked on 2026-10-22 against the 2 authorities it cites, for Australia.

## 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

- [Build a capital-gains calculation framework from the transaction papers](https://ailawframework.com/practice/taxation/build-a-capital-gains-calculation-framework-from-the-transaction-papers.md)

## 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

## Authorities

- [Australian Taxation Office, CGT events (last updated 22 June 2026): contract date, involuntary disposal, and the event table in Division 104 of the Income Tax Assessment Act 1997](https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/cgt-events)
- [Australian Taxation Office, Cost base of assets (last updated 29 June 2026): five elements, reduced cost base, exclusions, and the Tax Time 2026 budget note](https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/calculating-your-cgt/cost-base-of-asset)

## Full text and drafting notes

The full text and the drafting notes are not part of this public page. Signed-in firm accounts can read them at https://ailawframework.com/precedents/taxation/cgt-event-and-cost-base-worksheet and through the signed-in MCP connector https://ailawframework.com/mcp/firm.

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*