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Section 1C: How to complete the capital gains item on your entity's tax return

Last updated 5 October 2009

If your entity is required to complete a CGT schedule, you do not need to read this section: go to section 2 instead. If you are not sure whether you are required to complete a CGT schedule, check on Capital gains tax scheduleThis link will download a file in the introduction to this guide.

If your company, trust or fund is not required to complete a CGT schedule:

  • transfer the amount at G in part H of your entity's CGT summary worksheet to A Net capital gain on your entity's tax return
  • add amounts at H and I in part I of your entity's CGT summary worksheet and show the total amount at Losses information, V Net capital losses carried forward to later income years on your entity's tax return.

If you are an individual completing your 2002 tax return for individuals (supplementary section) or a tax agent completing a tax return on behalf of an individual:

  • transfer the amount at Total CYCG, part A3 of your CGT summary worksheet to H Total current year capital gains item 17 Capital gains on your tax return
  • transfer the amount at G, part H of your CGT summary worksheet to A Net capital gain item 17 Capital gains on your tax return
  • add amounts at H and I in part I of your CGT summary worksheet and show the total at V Net capital losses carried forward to later income years item 17 Capital gains on your tax return.

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