CGT events

Who is liable for a CGT event that is triggered by insolvency administration?

Insolvency statistics show that for the 2016-17 income year the number of insolvencies increased 2.1% compared to the previous year, according to the Australian Financial Security Authority (see a summary of the data here). By type of insolvency, bankruptcies decreased by 5.1%, however debt agreements were up by 11.9% and insolvency agreements increased by 39.4%.

[ Read More ]