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  • D Capital gains tax worksheets

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    Notes where choosing the indexation method

    You can make copies of the worksheets that follow these notes. Use a separate worksheet for each separate asset or parcel of shares or units.

    Description of asset

    For example, 'Parcel of 1000 shares in XYZ Ltd'.

    Type of asset

    Tick the box that applies.

    Column 1: Date incurred

    The date that you incur a cost is generally the date on which you make the payment.

    Column 2: Description of expenditure

    The cost base of an asset includes the 5 elements listed below. See Cost base and reduced cost base for further information.

    • The cost of acquiring the asset
    • Incidental costs of acquiring the asset or of the CGT event.
    • Non-capital costs of ownership if the asset was acquired after 21 August 1991.
    • Capital expenditure on any improvements that are reflected in the asset at the time of the CGT event.
    • Capital expenditure on maintaining title or rights to the asset.
    Column 3: Amount

    This information will be recorded on the documents and receipts relating to the expenditure.

    Column 4: Amount to be deducted for cost base

    Expenditure that you have deducted or can deduct does not form part of the cost base. This applies to all expenditure on assets acquired after 13 May 1997. Prior to that date you need to exclude from incidental costs and non-capital costs of ownership any amounts that you have deducted or could deduct. Any amounts that you have received as recoupment of expenditure also do not form part of the cost base - for example, an insurance payment in respect of the expense. For more information see Cost base and reduced cost base.

    Column 5: Net amount

    The amount in Column 3 minus the amount in Column 4.

    Column 6: CPI figure

    Write the CPI figure for the quarter of the year in which you incurred the relevant cost. This figure is used to adjust the different elements of the cost base to allow for inflation. Only expenditure incurred at or before 11.45am on 21 September 1999 may be indexed for inflation. See Appendix A for a list of CPI figures.

    Note:

    • You cannot index non-capital costs of ownership.
    • The cost base includes indexation only if you have owned the asset for 12 months or more. There are some exceptions – for example, assets inherited from a deceased estate.
    Column 7: Indexation factor

    For the 1999-2000 and later income years, divide the CPI figure for the quarter ending on 30 September 1999 by the CPI figure for the quarter in which you incurred the cost. Round the figure to 3 decimal places. If the fourth decimal place is 5 or more, round your answer up.

    Column 8: Cost base

    To index each cost, multiply the amount in column 5 by the indexation factor in column 7.

    Column 9: Amount to be deducted for reduced cost base

    The reduced cost base does not include an amount that you have deducted or can deduct. Any amounts that you have received as recoupment of expenditure also do not form part of the reduced cost base. However, the amounts will form part of the reduced cost base if you have included them in your assessable income. See Reduced cost base.

    Column 10: Balancing adjustment

    This is any amount included in your assessable income for any income year because of a balancing adjustment for the asset. Refer to Reduced cost base for more information.

    Column 11: Reduced amount

    Take away the amount in column 9 from the amount in column 3. Then add to this figure the amount in column 10.

    Totals
    Cost base

    Total of the amounts in column 8.

    Reduced cost base

    Total of the amounts in column 11.

    Note: Commercial debt forgiveness rules may affect your cost base and reduced cost base. See Debt forgiveness.

    Date of CGT event
    • If you disposed of an asset to someone else, say, under a contract, it is the date the contract was made.
    • If the asset was lost or destroyed, it is the date you received compensation.
    • If you do not receive any compensation, it is the date when the loss is discovered or the destruction occurred.

    For more information, see the section What is a CGT event?

    Capital proceeds

    Capital proceeds from a CGT event are the money and the value of other property you received or are entitled to receive when the CGT event happened.

    Last modified: 18 Sep 2009QC 18323