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  • About this guide

    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

    This guide is designed for individuals, companies, trusts and funds completing paper-based income tax returns. It explains how capital gains tax works and will help you calculate your net capital gain or net capital loss for 2002-03 so you can meet your capital gains tax obligations. There are worksheets at the back of the guide to help you do this.

    Individuals may prefer to use the shorter, simpler Personal investors guide to capital gains tax if, during 2002-03, they:

    • sold some shares
    • sold some units in a managed fund and/ or
    • received a distribution of a capital gain from a managed fund.

    If you are an individual and prefer to prepare and lodge your tax return electronically, you can use the e-tax 2003 software package developed by the Australian Taxation Office (ATO). The capital gains tax module includes a calculator for capital gains and capital losses and can be downloaded from the Internet at www.ato.gov.au.

    Included in this guide is the Capital gains tax (CGT) schedule 2003 which must be completed by companies, trusts and superannuation funds with capital gains tax obligations over a certain threshold. A CGT schedule (PDF, 180KB)This link will download a file has been included for your entity's use if required. Use part C of this guide to find out how to complete your worksheets, tax return labels and (if you are over the threshold) the CGT schedule.

    If you are a small business taxpayer, you should get the publication Capital gains tax concessions for small business.

    This publication is available free from the ATO. The ATO prohibits any party from selling it. We regularly revise our publications to take account of changes to the law.

    If you have an enquiry relating to your circumstances which this publication does not cover, phone the Personal Tax Infoline on 13 28 61 or get help from a tax adviser.

    Disclaimer and Commissioner's guarantee

    The information in this publication is current at June 2003 and we have made every effort to ensure it is accurate.

    As part of our commitment to produce accurate publications you will not be subject to penalties if you can demonstrate that you relied on something in this publication that was wrong or misleading. You may have to pay a general interest charge on omitted income or over-claimed deductions and tax offsets, depending on the circumstances of your case.

    Last modified: 25 Feb 2020QC 27448