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CGT Exemptions and Rollovers

There are exemptions or rollovers that may allow you to reduce, defer or disregard, your capital gain or capital loss. For example, you may be eligible for a rollover if you dispose of a CGT asset or all assets of a business or partnership to a wholly-owned company.

There is no rollover or exemption for a capital gain you make when you:

  • Sell an asset and put the proceeds into a superannuation fund; or
  • Use the proceeds to purchase an identical or similar asset; or
  • Transfer an asset into a superannuation fund.

For example, if you sell a rental property and put the proceeds into a superannuation fund, or use the proceeds to purchase another rental property, rollover is not available.

However, an asset or the capital proceeds from the sale of an asset may be transferred into a superannuation fund to satisfy certain conditions under the small business retirement exemption.

Our dedicated team can assist you with any queries you may have with regards to capital gains tax exemptions and rollovers. Complete and submit the express enquiry form or call us on +61 2 9223 9166 to arrange an appointment

© The Quinn Group Australia Pty Ltd ABN 86 078 526 860

The Quinn Group operates Quinn Consultants, Quinn Lawyers, Quinn Financial Planning and Quinn Financial Solutions. The Quinn Group provides related information in regard to legal, accounting and financial planning issues. Liability limited by a scheme approved under Professional Standards Legislation* *other than for the acts or omissions of financial services licensees.