Commonwealth Bank and Telstra 1 shares

If you purchased shares in the Commonwealth Bank of Australia (CBA) or the first float of Telstra from the Government (through instalment receipts) and you sold them during the year, you may have to pay capital gains tax.

If you use the indexation method to calculate your capital gain, indexation of the instalments is available from the following dates:

for CBA	first instalment-13 July 1996 final instalment-14 November 1997
for Telstra	first instalment-15 November 1997 final instalment-17 November 1998

For more information, see Taxation Determination TD 98/11 CBA and Telstra public share offers or the publication Personal investors guide to capital gains tax.