Step 3



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

End of attention

Add up all your capital gains for each asset category and make a note of each total amount.

You will also need to keep a record of capital gains which are discount capital gains or re eligible for any of the small business capital gains tax concessions. Do not include any capital gain to which an exemption or exception applies, except any amounts rolled over under the capital gains tax small business roll-over provisions or which are exempt under the small business retirement provisions.

You should include capital gains at this step before applying the CGT discount (see step 10) and the small business 50 per cent active asset reduction (see step 12).

If you received, or are entitled to receive, distribution from a trust which includes a net capital gain, you need to include this amount in your total capital gains. Do not include this amount as a distribution from the trust at item 11 on your 2000 tax return.

There are special rules if the trust's net capital gain was reduced by the CGT discount or by applying the small business 50 per cent active asset reduction or both. The trustee of the trust should advise you if the trust has claimed the CGT discount or small business 50 per cent active asset reduction. These rules require you to adjust the amount of the net capital gain to be included in your total capital gains. Refer to Capital gains, trusts and the CGT concession for further information.

Write the total of your current year capital gains at H item 14 on your tax return.


In July 1998 Lyn bought 800 Co A shares at $3 per share. In December 1999, she sold all 800 shares for $4 per share. Lyn chooses not to index the cost base of the shares. She therefore has a discount capital gain (other CGT assets) of $800. In August 1999, Lyn received $1,700 when she sold jewellery that she acquired in July 1996 for $1,000. She calculates her capital gain on the jewellery by indexing the cost base.

Capital proceeds


less cost base
(indexation factor 1.027 (123.4/ 120.1)


Capital gain made on the jewellery


Lyn shows $1473 at H, being $800 capital gain from the sale of the shares and $673 from the jewellery.

Last modified: 18 Sep 2009QC 18323