• Step by step guide to capital gains

    An outline of the steps required to complete capital gains tax (CGT) labels on a company, trust or fund tax return.


    The completion of the CGT labels on your entity’s tax return involves a:

    • three-step process for entities with capital gains or capital losses under the $10,000 threshold, or
    • four-step process for companies, trusts or funds with capital gains or capital losses over the $10,000 threshold.

    Step 1 - Calculate a capital gain or capital loss for each CGT event that happens during the income year using the Capital gain or capital loss worksheet.

    Step 2 - Calculate the net capital gain or net capital loss for the income year using the CGT summary worksheet.

    Step 3 - Complete the capital gains item on your entity’s tax return.

    Step 4 - If required, complete a CGT schedule.

      Last modified: 21 Jun 2016QC 16983