Guide to capital gains tax 2004

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Part D

From step D1 on page 4 of the CGT summary worksheet :

1. Add the amounts at columns 3A and 3D and transfer the total to E in part D of the CGT schedule.
2. Add the amounts at columns 3B and 3E and transfer the total to F in part D of the CGT schedule.
3. Add the amounts at columns 3C and 3F and transfer the total to G in part D of the CGT schedule.
4. Transfer the Total CYCL applied amount at H to H in part D of the CGT schedule.

From step D2 on page 5 of the CGT summary worksheet:

1. Add the amounts at columns 4D and 4G and transfer the total to I in part D of the CGT schedule.
2. Add the amounts at columns 4E and 4H and transfer the total to J in part D of the CGT schedule.
3. Add the amounts at columns 4F and 4I and transfer the total to K in part D of the CGT schedule.
4. Transfer the Total PYNCL applied amount at L to L in part D of the CGT schedule.

From step D3 on page 5 of the CGT summary worksheet :

1. Add the amounts at columns 5A and 5D and transfer the total to M in part D of the CGT schedule.
2. Add the amounts at columns 5B and 5E and transfer the total to N in part D of the CGT schedule.
3. Add the amounts at columns 5C and 5F and transfer the total to O in part D of the CGT schedule.
4. Transfer the Total capital losses transferred in amount at P to P in part D of the CGT schedule.

Part E

Transfer the amounts at A , B , C , D , E and F of the CGT summary worksheet to the corresponding labels in part E of the CGT schedule.

Part F

Transfer the amounts at J and K of the CGT summary worksheet to the corresponding labels in part F of the CGT schedule.

Part G

Transfer the amounts at rows L to N , O to Q and R to T of the CGT summary worksheet to the corresponding labels in part G of the CGT schedule.

Part H

Transfer the amount at G of the CGT summary worksheet to in part H of the CGT schedule.

Part I

Transfer the amounts at H and I of the CGT summary worksheet to the corresponding labels in part I of the CGT schedule.

Part J

Write the total amount of any capital gains disregarded by the small business 15-year exemption (do not apply the CGT discount) at J in part J of the CGT schedule.

Print in the box at K the code from the list below that best describes the CGT asset or CGT event from which your entity made the capital gain. If your entity made capital gains from more than one CGT asset or CGT event, select the code which best describes the type of CGT asset or CGT event that produced the largest amount of capital gain.

CGT asset or CGT event code

S	shares
U	units in unit trusts
R	real estate
G	goodwill
O	other CGT assets or CGT events not listed above

Part K

During the income year, did your entity choose scrip-for-scrip rollover when an arrangement was made to exchange original interests for replacement interests?

(Original interests are shares or units or other interests [or an option, right or similar interest in a company or trust], while replacement interests are similar interests in another company or trust.)

Print Y for yes or N for no at A .

If you printed Y for yes :

Write at B the amount of the cost base for all of the original interests exchanged (regardless of whether or not full rollover was available).

Write at C the total of the market value of the replacement interests acquired.

Write at D the total of the amount of cash and other considerations received. Do not include any amount already included at C .

Part L (for companies and trusts only)

Was the company or trust an 'acquiring entity' during the income year under an arrangement for which original interest holders qualified for scrip-for-scrip rollover?

Print Y for yes or N for no at E .

If you printed Y for yes , provide the information requested below in relation to the arrangement. If interests were acquired in more than one original entity, write at F the number of original entities subject to such arrangements and provide the information requested below in respect of the arrangement involving the greatest cost base for the interests acquired.

Show at G the TFN for the original entity.

Show at H the number of shares, units or other interests issued in exchange for the shares or units or other interests acquired in the original entity.

Show at I the number of options, rights or similar interests issued in exchange for the options, rights or similar interests acquired in the other entity.

Show at J the amount of other considerations (including cash) given to acquire the shares, units or other interests, options, rights or similar interests in the original entity.

Show at K the total of the first element of the cost bases of the shares, units or other interests, options, rights or similar interests acquired in the original entity as a result of the arrangement.

Did the company that issued replacement interests or the trustee of the trust, jointly with a significant or common stakeholder, choose to receive a rollover?

Print Y for yes or N for no at L .

If the answer at L is yes, show at M the total of the first element of the cost bases of the shares, or units or other interests, or options, rights or similar interests in the original entity (original interests) acquired directly from significant and common stakeholders for the arrangement, or issued by the original entity to the company or trust and attributable to original interests of significant and common stakeholders that were cancelled under the arrangement.

Part M (for companies only)

Did the company have an employee share scheme in place at any time during the year?

Print Y for yes or N for no at N .

Part N (for companies only)

At the end of the income year, did the company still have any assets that were acquired before 20 September 1985 and that were not treated as post-CGT assets under Division 149?

Print Y for yes or N for no at O .

Part O (for companies only)

During the income year, did the company have a share in, or a loan to, an associated company which, under a scheme (as defined) entered into before 27 June 2002, either:

• forgave a debt owed by another company under common ownership, or
• suffered a substantial and permanent reduction in the value of the debt owed to it by the other company under common ownership?

Print Y for yes or N for no at P .

If the answer at P is yes , show at Q the total amount by which the company reduced the cost bases of all its shares and loans to the associated company.

During the income year, did a CGT event happen to a share held by the company in an associated company, where the associated company had previously owed a debt to a company under common ownership and that company under common ownership either forgave the debt or suffered a permanent and substantial reduction in the value of the debt?

Print Y for yes or N for no at R .

If the answer at R is yes , show at S the total amount by which the company adjusted the cost bases of all its shares in the associated company to which a CGT event happened.

Part P (for companies only)

During the income year, did a CGT event happen to a share in, or loan to, another company in the same wholly owned group, where that other company (or a company in which it had a direct or indirect interest) had previously transferred a tax loss or a net capital loss to any company in the group?

Print Y for yes or N for no at T .

If the answer at R is yes , show at U the total amount by which the company reduced the cost bases of such assets.

During the income year, did a CGT event happen to an asset of the company that was a share in, or a loan to, another company in the same wholly owned group, where a company in the group had previously transferred a tax loss or a net capital loss to that company (or a company in which it had a direct or indirect interest)?

Print Y for yes or N for no at V .

If the answer at V is yes , show at W the total amount by which the company adjusted the cost bases of such assets.

After following all these steps, you have completed your entity's CGT schedule.

Remember to lodge the CGT schedule with your entity's tax return.

Do not lodge your worksheets - keep these with your own records.

ATO references:
NO NAT 4151