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  • Capital gains and managed funds

    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

    How you complete this section will depend on your circumstances:

    • If your only capital gains are from a managed fund and, at the Managed funds section, your share of the current year capital gains is $10,000 or less, you do not need to complete the Capital gains or losses section.
    • If your only capital gains are from a managed fund and, at the Managed funds section, your share of the current year capital gains is more than $10,000, myTax will prompt you to complete the Capital gains or losses section.  
      • myTax will complete Total current year capital gains and Net capital gain in the Capital gains or losses section from the information shown in the Managed funds section.
      • You will need to complete the Capital gains tax schedule.
       

    Go to step 6 in Completing this section.

    • If you have capital gains from a managed fund and a separate capital gains tax event during the year, when completing the Capital gains or losses section:  
      • the capital gains amounts shown in the Managed fund section will be automatically carried over to the Capital gains or losses section for you to review, and
      • you will need to ensure that all your capital gains, including those from managed funds, are included in what you show at Total current year capital gains and Net capital gain.
       

    Go to step 2 in Completing this section.

    • If you have capital gains from a managed fund, no other capital gains tax event during the year but have a carried forward capital loss from a prior year:  
      • you should select the Capital gains or losses that are not from a managed fund checkbox on the Personalise return screen,
      • the capital gains amounts shown in the Managed fund section will be automatically carried over to the Capital gains or losses section for you to review, and
      • you will need to ensure that your capital gains from managed funds are included in what you show at Total current year capital gains and Net capital gain.
       

    Go to step 2 in Completing this section.

      Last modified: 28 Jun 2018QC 55629