Circumstances when additional information is needed: Net capital gains of minors



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If you are under 18 years of age at 30 June 2000, and answered NO to the second question within TaxPack 2000 question A1, and only part of your net capital gain is excepted income, you will need to provide additional information. On a separate piece of paper print SCHEDULE OF ADDITIONAL INFORMATION: CGT AVERAGING REDUCTION - PARTLY EXCEPTED INCOME then explain your circumstances, including the following:

  • the amount of the net capital gain at W which is considered to be excepted income, and why;
  • the amount you subtracted in working out your modified net capital gain amount at Z, because it would not be excepted income, and details of how it was worked out;
  • details of how you worked out your pre-announcement net capital gain amount at V.

Also include your name, address and tax file number. Print X in the YES box at Taxpayer's declaration question 2a on page 8 of your tax return. Sign and attach your schedule to page 3 of your tax return.

Last modified: 18 Sep 2009QC 18323