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. |
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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. |