Question 1 In relation to the operation of CGT, which of the following statements is most correct? Tool O A capital gain arises when the cost value of an asset is greater than the market value of the asset. O A net capital gain is included in non-assessable non-exempt income. O Net capital losses in any year are quarantined and carried forward to future years. Assets purchased before 19 September 1985 generally require a consideration of CGT on their disposal. O Resident taxpayers will need to consider the application of CGT in relation to the disposal of all assets