Working out your capital gain or loss
For every capital gains tax (CGT) event that happened to your assets during the year, you need to work out your capital gain or capital loss.
If you have both capital gains and capital losses, you also have to work out your net capital gain/loss for the year.
If you have a distribution from a managed fund, the fund has already worked out your capital gain or capital loss and should have given you the information on a distribution statement.
For most CGT events, you work out your capital gain or capital loss by subtracting your cost base (what it cost you to get the asset) from your capital proceeds (what you received when you disposed of it). The amount you declare on your tax return is the total of your capital gains for the year, less any capital losses you incurred and any CGT discount or concessions you’re entitled to.