Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A gain is realised for income tax purposes by a * realisation event that happens to a * CGT asset if, and only if, an entity makes a * capital gain from the event. That capital gain is the gain that is realised by the event.
(2) If a provision of this Act reduces the gain that would, apart from that provision, be * realised for income tax purposes by the event, the * capital gain is reduced by the same amount.