to CGT being considered? Most people understand that an asset is said to be acquired when you buy it. But the asset is also "acquired" when you inherit it, construct it or receive it as a gift. Similarly, an asset is disposed of when a CGT event occurs - most obviously selling it. However the asset is also said to have been disposed of for tax purposes when you give it away, change ownership off market, or even when it is lost or destroyed. So bear in mind that if you buy XYZ shares for your children and then 10 years later, give the shares to the kids - you have triggered a capital gains tax event and if the shares have gone up in value, YOU will be liable for the tax. A capital gain will usually be disregarded if the CGT asset was acquired before 20 September 1985. So for those holding "pre-85" shares or property, selling these assets can be an excellent way to release tax free capital. Now to calculate your CGT for individuals (not companies or super funds), you can use any of the methods below. The method chosen will affect the way capital losses are dealt with. Full capital gain method for calculating the amount of CGT payable for assets held less than 12 months: 1.  Calculate the cost base for each part of the asset: (cost of shares plus brokerage) 2. Calculate the assessable capital gains: Consideration received (proceeds of sale less brokerage)