Is the tax point for cgt the trade date or the settlement date?

Securities traded on established market. For securities traded on an established securities market, your holding period begins the day after the trade date you bought the securities, and ends on the trade date you sold them.

Do not confuse the trade date with the settlement date, which is the date by which the stock must be delivered and payment must be made.

Example.

You are a cash method, calendar year taxpayer. You sold stock at a gain on December 29, 2009. According to the rules of the stock exchange, the sale was closed by delivery of the stock 3 trading days after the sale, on January 4, 2010. You received payment of the sales price on that same day. Report your gain on your 2009 return, even though you received the payment in 2010. The gain is long term or short term depending on whether you held the stock more than 1 year. Your holding period ended on December 29. If you had sold the stock at a loss, you would also report it on your 2009 return.

For more information go to the IRS Government website and use the search box for Publication 17 go to chapter 14