Private ruling: Capital gains tax
Date of advice: 28 November 2025
Published: 12 January 2026
Ruling period: DD MM YY
Date scheme commenced: DD MM YY

Ruling: Q1: For capital gains tax (CGT) purposes, is the time of disposal of the property the date the contract of sale was entered into? | A1: Yes. If there is a contract of sale, the CGT event happens when you enter into the contract. For example, if you sell a house, the CGT event happens on the date of the contract, not when you settle. In your case, a contract was signed on DD MM YY to sell your property located at XXXX. Therefore, the CGT event can be reported in the XXXX financial year. Further information about capital gains tax and sale or disposal of assets can be found by searching ato.gov.au for 'QC 66016'.

Relevant facts and circumstances: Your main business activity is XXXX. On DD MM YY, a contract was signed to sell one of your properties located at XXXX. Your intention was to settle the property before the end of the XXXX financial year. The purchaser's bank requested conditions to be met which caused a delay of XX days. The property settled on DD MM YY.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 104-10