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  • A Net capital gain



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Did the SMSF have a net capital gain?

    The SMSF’s net capital gain is the total capital gain for 2020–21 less:

    • any 2020–21 capital losses
    • any prior year net capital losses, and
    • any other relevant CGT discount or concession.


    Leave A blank.


    Print at A the SMSF's net capital gain.

    Show at A the amount of net capital gain calculated or transferred from:

    • 6A at part 6 of the CGT summary worksheet
    • A at part 6 of the CGT schedule, if any.

    When working out the SMSF's net capital gain, include:

    • net foreign source capital gains
    • the capital gains component of the SMSF's share of net income from a trust
    • the capital gains component of the SMSF's share of a distribution from a partnership
    • capital gains made by the SMSF from a forestry managed investment scheme (see Appendix 2: Forestry managed investment schemes)
    • the amount of capital gain previously deferred under the Transitional CGT relief.

    If you include an amount at A that is exempt current pension income, include it also at Y Exempt current pension income.

    Non-arm's length capital gains

    A net capital gain from the sale of an asset by the SMSF is non-arm's length income if, for example, the asset:

    • was sold to a related party for more than the asset’s market value, or
    • was originally acquired from a related party for less than the asset’s market value.

    Complying SMSFs do not include non-arm's length net capital gains at A. Show these at Non-arm's length income items U2 or U3.

    To calculate the SMSF’s net capital gain, see Capital gains tax.

    Example: Capital gains tax

    In 2020–21, SMSF A sold a house for $500,000. It bought the house for $470,000 in 2013. Its capital gain from this sale using the discount method (see Capital gains tax) is $20,000.

    SMSF A reports:

    G Did you have a capital gains tax (CGT) event during the year? Yes

    M Have you applied an exemption or rollover? No

    A Net capital gain $20,000

    End of example
    Last modified: 27 May 2021QC 64911