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Steps you need to take

Last updated 5 October 2009

The completion of the CGT labels on your entity's 2001-02 tax return involves a 3-step process (for entities with capital gains or capital losses under the $10,000 threshold) or a 4-step process (for entities with capital gains or capital losses over the $10,000 threshold):

Step 1

Calculate a capital gain or capital loss for each CGT event that happens during the 2001-02 income year using the Capital gain or capital loss worksheet.

Step 2

Calculate the net capital gain or net capital loss for the 2001-02 income year using the CGT summary worksheet.

Step 3

If required, complete a CGT schedule.

Step 4

Complete the capital gains item on your entity's tax return.

QC27417