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Step 3 - How to complete the capital gains item on your entity's tax return

Last updated 24 May 2020

In the earlier steps, you calculated your capital gain or capital loss for each CGT event, then worked out your net capital gain or net capital loss.

If your entity made a capital gain or capital loss during the income year:

  • print Y (for YES) at GDid you have a capital gains tax event during the year? at the capital gains item on your entity's tax return
  • 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, and
  • add the amounts, if any, at H and I in part I of your entity's CGT summary worksheet and write 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 Tax return for individuals (supplementary section) 2007 or a registered tax agent completing a tax return on behalf of an individual:

  • print Y (for YES) at G Did you have a capital gains tax event during the year? Item 17 Capital gains on your tax return (supplementary section) or item 9 if you use the Tax return for retirees
  • 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 (supplementary section) or item 9 if you use the Tax return for retirees
  • 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 (supplementary section), or item 9 if you use the Tax return for retirees, and
  • add the amounts, if any, at H and I in part I of your CGT summary worksheet and write the total at V Net capital losses carried forward to later income years item 17 Capital gains on your tax return (supplementary section), or item 9 if you use the Tax return for retirees.

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