Collectables & Physical Items
<h2 >Collectables</h2>
<p >Collectables include the following items used or kept mainly for the personal use or enjoyment of you or your associates:</p>
<ul >
<li >paintings, sculptures, drawings, engravings or photographs; reproductions of these items; or property of a similar description or use</li>
<li >jewellery</li>
<li >antiques</li>
<li >coins or medallions</li>
<li >rare folios, manuscripts or books</li>
<li >postage stamps or first day covers.</li>
</ul>
<p >A collectable is also:</p>
<ul >
<li >an interest in any of the items listed above</li>
<li >a debt that arises from any of those items</li>
<li >an option or right to acquire any of those items.</li>
</ul>
<p >You disregard any capital gain or capital loss you make from a collectable if any of the following apply:</p>
<ul >
<li >you acquired the collectable for $500 or less</li>
<li >you acquired your interest in the collectable for $500 or less before 16 December 1995, or</li>
<li >you acquired an interest in the collectable when it had a market value of $500 or less.</li>
</ul>
<p >If you dispose of individual collectables that you would usually dispose of as a set, you are exempt from paying CGT only if you acquired the set for $500 or less on or after 16 December 1995.
Capital losses from collectables can be used only to reduce capital gains (including future capital gains) from collectables. As is the case with any capital loss, there is no time limit on how long you can carry forward a net capital loss from a collectable.</p>