Net capital gains in respect of CGT assets acquired after 19 September 1985 are included in assessable income and taxed at marginal rates.

A CGT discount factor automatically applies to individuals and trustees (of 50%) and to complying superannuation funds (of 33.33%) in respect of CGT assets acquired after 11.45am Australian Eastern Standard Time (AEST) on 21 September 1999 and held for at least 12 months before the time of the CGT event. The CGT discount is not available for foreign resident or temporary resident individuals in respect of gains accrued after 7.30pm (AEST) on 8 May 2012. The CGT discount remains available for capital gains accrued prior to this time where the relevant individual chooses to obtain a market valuation of assets as at 8 May 2012.