It is important to check CGT implications in advance when sale or transfer of affected assets is being considered.

Capital gains tax (CGT) events are relatively infrequent for most farming operations, as a result accurate record-keeping is a very important factor in CGT management. It is important to check CGT implications in advance when sale or transfer of affected assets is being considered in order to understand the full impact after any concessions, exemptions or discounts have been applied.