The completion of the CGT labels on your entity's 2006 tax return involves a three-step process (for entities with capital gains or capital losses under the $10,000 threshold) or a four-step process (for entities with capital gains or capital losses over the $10,000 threshold):
Step 1 |
Calculate the capital gain or capital loss for each CGT event that happens during the 2005-06 income year using the Capital gain or capital loss worksheet (PDF 532KB)This link will download a file. |
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Step 2 |
Calculate the net capital gain for the 2005-06 income year or net capital losses carried forward to later income years using the CGT summary worksheet (PDF 320KB)This link will download a file. |
Step 3 |
Complete the capital gains item on your entity's tax return. |
Step 4 |
If required, complete a CGT schedule. |