ato logo
Search Suggestion:

About this guide

Last updated 5 October 2009

The Personal investors guide to capital gains tax 2003-04 explains the capital gains tax consequences of:

  • the sale or gift (or other disposal) of shares or units
  • the receipt of distributions of capital gains from managed funds, and
  • the receipt of non-assessable payments from companies or managed funds.

Who should use this guide?

Use this guide if you are a personal investor who has made a capital gain or capital loss from shares, units or managed funds in 2003-04.

It will help you to complete:

  • item 17 Capital gains on your 2004 tax return for individuals (supplementary section), or
  • item 9 Capital gains if you use the 2004 tax return for retirees. Note: You cannot use the 2004 tax return for retirees if you had a distribution from a managed fund during the year.

If you sold or otherwise disposed of shares or units in a unit trust (including a managed fund) in 2003-04, read part A of this guide, then work through part B.

If you received a distribution of a capital gain from a managed fund in 2003-04, read part A of this guide, then work through part C Managed funds include property trusts, share trusts, equity trusts, growth trusts, imputation trusts and balanced trusts.

Who should NOT use this guide?

Do not use this guide if you are an investor who is not a resident of Australia or if you have gains or losses included as part of your income under other provisions of the tax law - for example, if you are a share trader.

The guide does not explain more complex issues relating to shares (including employee shares), convertible notes and units. Nor does it apply to shares and units owned by companies, trusts and superannuation funds.

Also, this guide does not cover your capital gains tax consequences when you sell other assets such as:

  • a rental property
  • collectables (for example, jewellery, art, antiques and collections), and
  • assets for personal use (for example, a boat you use for recreation).

For these, see the Guide to capital gains tax.