Guide to capital gains tax 2004-05

Who should use this guide?

An individual, company, trust or superannuation fund can use this guide to work out their capital gains tax.

A company, trust or superannuation fund that is required to complete and lodge a Capital gains tax (CGT) schedule 2005 should use the schedule included at the back of this guide. Part C explains when a schedule must be lodged.

If you have a small business, you should get the publication Guide to capital gains tax concessions for small business (NAT 8384).

Individuals may prefer to use the shorter, simpler Personal investors guide to capital gains tax 2005 (NAT 4152–6.2005) if, during 2004–05, they only:

• sold some shares
• sold some units in a managed fund, and/or
• received a distribution of a capital gain from a managed fund.

This guide does not deal fully with the capital gains tax position of:

• a company that is the head company of a consolidated group – the rules that apply to members of a consolidated group modify the application of the capital gains tax rules. For more information about the consolidation rules, or if you have technical tax enquiries, visit our website or phone the Tax Reform Infoline on 13 24 78
• an individual or entity whose gains or losses are included as part of its income under other provisions of the tax law – for example, from carrying on a business of share trading (see the fact sheet Carrying on a business of share trading, available on our website)
• an individual or entity that is a non-resident of Australia.

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Last Modified: Sunday, 1 October 2006