ato logo
Search Suggestion:

Step 3 How to complete the capital gains item on your entity's tax return

Last updated 9 September 2010

In the earlier steps, you calculated your capital gain or capital loss for each CGT event, then worked out your net capital gain or net capital loss.

If your entity made a capital gain or capital loss during the income year:

  • print Y (for Yes) at G Did you have a capital gains tax event during the year? at the capital gains item on your entity's tax return
  • transfer the amount at G in part H of your entity's CGT summary worksheet to A Net capital gain on your entity's tax return, and
  • add the amounts, if any, at H and I in part I of your entity's CGT summary worksheet and write the total amount at Losses information, V Net capital losses carried forward to later income years on your entity's tax return.

If you are an individual completing your Tax return for individuals (supplementary section) 2010 or a registered tax agent completing a tax return on behalf of an individual:

  • print Y (for Yes) at G Did you have a capital gains tax event during the year? item 18 Capital gains on your tax return (supplementary section)
  • transfer the amount at Total CYCG, part A3 of your CGT summary worksheet to H Total current year capital gains item 18 Capital gains on your tax return (supplementary section)
  • transfer the amount at G, part H of your CGT summary worksheet to A Net capital gain item 18 Capital gains on your tax return (supplementary section), and
  • add the amounts, if any, at H and I in part I of your CGT summary worksheet and write the total at V Net capital losses carried forward to later income years item 18 Capital gains on your tax return (supplementary section).

QC28058