What triggers CGT? A The happening of a CGT Event in relation to a CGT Asset B The happening of a CGT Event C The disposal of a CGT Asset D A contract to transfer a CGT Asset Question 2 1 Point In relation to the operation of CGT, which of the following statements is least correct? A A net capital gain is included in assessable income B A capital gain arises when the market value of an asset is greater than the cost of the asset Assets purchased after 19 September 1985 generally require a consideration of CGT on their disposal Net capital losses in any year are quarantined and carried forward to future years The 'Corporate Taxation' model A Imposes tax on the income of the business entity at entity level B Permits the Tax Commissioner to tax both the company and the shareholder for income distributed to the shareholder Is designed to ensure that shareholders to whom the company pays dividends pay all the tax owing for the dividend income D Is designed to ensure that companies and shareholders always share in equal proportion the tax owing for company income Question 4 1 Point Companies cannot claim deductions for the payment of dividends A True as long as the company pays the dividend in two instalments not less than six months apart B False (CFalse unless the dividend is franked D True