Step 2 Gross up any discounted capital gain you have received
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If the fund has applied the CGT discount to your distribution, this is known as a discounted capital gain.
You need to gross up any discounted capital gain distributed to you by multiplying the gain by two. This grossed-up amount is your capital gain from the fund. If the managed fund has shown the grossed-up amount of the discounted capital gain on your distribution statement, you can use that amount.
Last modified: 04 Mar 2016QC 19437
Example 21: Grossing up a capital gain
Tim received a distribution from a fund that included a discounted capital gain of $400. Tim's statement shows that the fund had used the discount method to calculate the gain.
Tim grosses up the capital gain to $800 (that is, $400 x 2).
End of example