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  • Introduction

    Attention

    Warning:

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

    End of attention

    Read part B if you are an individual and a capital gains tax (CGT) event has happened to you in 2002-03 or you received a distribution from a trust (including a managed fund) that included a net capital gain.

    If you have only sold a few shares or units, or have a managed fund distribution, you may find it easier to use the Personal investors guide to capital gains tax, available from the sources listed at the back of this guide.

    The steps that follow explain how to calculate your net capital gain or capital loss for 2002-03 and complete item 17 Capital gains on your 2003 tax return for individuals (supplementary section)-or item 9 if you complete the 2003 tax return for retirees. Note: You cannot use the tax return for retirees if you had a distribution from a managed fund during the year.

    Chapter 2 in part A explains how to calculate a capital gain or capital loss for each CGT event or asset using the Capital gain or capital loss worksheetThis link will download a file. For most individuals, this worksheet is all you will need to work out what needs to be included at item 17 on your tax return (or item 9 if you complete the tax return for retirees).

    If you have a large number of these worksheets due to having several CGT events happen to you, you may wish to use the CGT summary worksheetThis link will download a file to help you calculate your net capital gain or net capital loss. Go to steps 2 and 3 in part C of this guide to find out how to complete the summary worksheet and then item 17 on your tax return (or item 9 if you complete the tax return for retirees).

    Note: New terms

    There may be terms in part B that are not familiar to you. Refer to chapter 1 in part A for more information or to Explanation of terms.

    Last modified: 25 Feb 2020QC 27448