Certain capital gains and capital losses (that is, collectables and personal use assets) are treated differently when calculating your net capital gain or net capital loss. See chapter 1 in part A for explanations of these assets and how they are treated under capital gains tax.
The records of your CGT events need to be separated into the following three categories:
- collectables (for example, jewellery)
- personal use assets (for example, a boat you use for recreation)
- other CGT assets or CGT events, including distributions of capital gains from managed funds.