Capital gains tax (CGT) schedule

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

End of attention

You do not need to complete a Capital gains tax (CGT) schedule 2012 (CGT schedule) if the trust was a subsidiary member of a consolidated group for the whole of the income year.

In other cases, complete a Capital gains tax (CGT) schedule 2012 and attach it to the trust's tax return if:

• a CGT event occurs in relation to a forestry managed investment scheme (FMIS) interest that is held other than as an initial participant
• the trust's total current year capital gains are greater than $10,000, or
• the trust's total current year capital losses are greater than $10,000.

The Guide to capital gains tax 2012 will help you complete the CGT schedule. It also includes:

• a capital gain or capital loss worksheet for calculating a capital gain or capital loss for each CGT event
• a CGT summary worksheet for calculating a net capital gain or net capital loss for the income year
• a CGT schedule.