Step 9 - Working out your net capital gain

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

The amount of your remaining capital gains becomes your net capital gain, which you write at A Net capital gain item 17 on your tax return (supplementary section), or item 9 if you use the Tax return for retirees.

It represents the amount you have written at H Total current year capital gains reduced in accordance with:

• Step 5 Applying current year capital losses
• Step 6 Applying net capital losses from earlier years
• Step 7 Applying the CGT discount, and/or
• Step 8 Applying the small business CGT concessions.

If you have capital losses that have reduced your capital gains to zero, do not put anything at A Net capital gain. If you have any capital losses remaining after reducing your capital gains, you can carry these forward to future income years (see step 10). Again do not include losses from:

• assets you acquired before 20 September 1985
• personal use assets, or
• other losses that are disregarded.