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We are looking at buying either a 2013 Mitsubishi ASX or a 2013 Corolla GX hatch. Both come with CVT transmissions. We have a small trailer that we use to go camping with and for trips to the dump, etc. Is the CVT Ok for towing.
Also any thoughts on the car to choose. We are leaning toward the corolla.

These vehicles are both fine for towing a light trailer, with the 2wd ASX and the Corolla both having 1,300kg braked tow ratings.
They're both good vehicles, but quite different in size and type, with the Corolla being a compact hatchback and the ASX a Crossover/SUV, with a higher ride and seating position.
Therefore, it comes down to which one better suits your needs, as I'd recommend either.