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  • Steps you need to take

    Attention

    Warning:

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

    End of attention

    The completion of the CGT labels on your entity’s 2019 tax return involves:

    • a three-step process (for entities with capital gains or capital losses under the $10,000 threshold)
    • a four-step process (for entities with capital gains or capital losses over the $10,000 threshold), or
    • a four-step process if you are a superannuation fund (or pooled superannuation trust) recognising a capital gain in 2018-19 that was deferred in 2016–17 under the transitional CGT relief.

    Step 1

    Calculate the capital gain or capital loss for each CGT event that happens during 2018–19 using the Capital gain or capital loss worksheet.

    Step 2

    Calculate the net capital gain for 2018–19 or net capital losses carried forward to later income years 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. If you have chosen to apply transitional CGT relief in 2016–17 and a realisation event occurred in 2018-19, you must complete a CGT schedule.

      Last modified: 17 Jun 2019QC 58645