Guide to capital gains tax has information on the look-through CGT treatment for certain Earnout arrangements.
Where the guide instructs you to write an amount at 7G on the schedule, you will need to lodge an amendment. To personalise your amendment to show this 7G amount, at Personalise return select:
- You had Australian interest, or other Australian income or losses from investments or property
- Request an amendment in relation to an earnout arrangement
To show your 7G amount in your amendment, at Prepare return select 'Add/Edit' at the Capital gains or losses banner.
At the Request an amendment banner, enter this amount at Amended net capital gain or capital losses carried forward.
If you have already lodged an amendment in relation to an earnout arrangement and wish to submit another amendment in relation to the earnout arrangement, you can't use myTax. See Correct (amend) an income tax return.