ato logo

M Have you applied a CGT exemption or rollover?

Last updated 12 February 2019

If the fund has capital gains disregarded or deferred as a result of an application of a CGT exemption or rollover, print X in the Yes box at M. Otherwise print X in the No box. If you selected Yes you may need to provide details of certain CGT exemptions or rollovers, if you are required to lodge a Capital gains tax (CGT) schedule 2015.

Print in the code box at M the appropriate CGT exemption or rollover code from the list below. Choose the most specific rollover or exemption code that applies. For example, choose the ‘Scrip for scrip rollover (Subdivision 124-M)’ code before the more general rollover ‘Replacement asset rollovers (Division 124)’ code.

If more than one CGT exemption or rollover applies, select all the codes that apply. If you are lodging on a paper return, print the code that corresponds to the CGT exemption or rollover that resulted in the largest amount of capital gain disregarded or deferred.

CGT exemption or rollover code:




Small business active asset reduction (Subdivision 152-C)


Small business retirement exemption (Subdivision152-D)


Small business rollover (Subdivision 152-E)


Small business 15 year exemption (Subdivision152-B)


Scrip for scrip rollover (Subdivision 124-M)


Replacement asset rollovers (Division 124)


Exchange of shares or units (Subdivision 124-E)


Exchange of rights or options (Subdivision 124-F)


Exchange of shares in one company for shares in another company (Division 615)


Exchange of units in a unit trust for shares in a company (Division 615)


Disposal of assets by a trust to a company (Subdivision 124-N)


Same asset rollovers (Division 126)


Other exemptions and rollovers

Find out more

For information about CGT exemptions and rollovers, see the Guide to capital gains tax 2015.

End of find out more

A Net capital gain

The fund’s net capital gain is the total current year capital gains less the current year capital losses, prior year net capital losses and any other relevant concession.

Show at A the amount of net capital gain calculated or transferred from:

  • 6A at part 6 of the CGT summary worksheet
  • A at part 6 of the CGT schedule, if one is required.

Net capital gain includes:

  • net foreign source capital gains
  • the capital gains component of the fund’s share of net income received from a trust
  • any capital gains made by the fund from a forestry managed investment scheme. See CGT information included at X Forestry managed investment scheme income item 10.

Do not show at A any net capital gain to the extent it reflects any non-arm’s length capital gains of a complying superannuation fund, complying ADF or a PST. Show this amount at U Net non-arm’s length income.

Find out more

For how to calculate the fund’s net capital gain or for special CGT rules that apply to foreign residents or trustees of foreign trusts or subsequent participants in a Forestry Managed Investment Scheme, see the Guide to capital gains tax 2015.

End of find out more

The fund may need to complete a Losses schedule 2015. For more information, see Schedules, and the Losses schedule instructions 2015 (NAT 4088).