Download Instructions and form for super fund members Capital gains tax cap election (NAT 71161, PDF, 145KB)
|
If these contributions to your super related to the period between the 10 May 2006 and 30 June 2007, you do not need to use this election. You should, refer to Completing your Transitional capital gains tax (CGT) cap election (NAT 70806).
|
You should complete this election if contributions have been made to your super, during the financial year from the disposal of certain small business assets, and you:
- want to exclude these contributions from the non-concessional contributions cap, and
- have not reached your $1 million CGT cap amount - this amount is indexed on an annual basis and rounded down to the nearest $5,000.
Provide the name of your super fund and your member account number so your super fund can identify your account.
Provide your personal details so your super fund can identify you. You don't have to provide your tax file number (TFN) to your super fund. However, if you do, it will help them identify you correctly.
Provide the details of the entity that paid the contributions on your behalf.
Complete by placing an 'x' in the appropriate box to elect the exemption you wish to use and provide the amount you want to exclude from the non-concessional contributions cap.
You cannot exclude amounts in excess of your CGT cap amount, which is a $1 million life time limit that is reduced by the amount of contributions covered by previous elections and may be increased by indexation.
Read the declaration. If it is correct, print your full name and sign and date the declaration.
|
Send this election to your super fund either before or when the contribution is made.
|
|
The information on this election is for you and your super fund. Do not send this election to us. We don't collect this information, we only provide a format for you to provide the information to your super fund.
|
For more information about CGT exemptions:
- visit our website at www.ato.gov.au
- phone 13 10 20 between 8.00am and 6.00pm, Monday to Friday, or
- write to us at
If you do not speak English well and want to talk to a tax officer, phone the Translating and Interpreting Service on 13 14 50 for help with your call.
If you have a hearing or speech impairment and have access to appropriate TTY or modem equipment, phone 13 36 77. If you do not have access to TTY or modem equipment, phone the Speech to Speech Relay Service on 1300 555 727.
Last Modified: Thursday, 5 July 2007