• Section 1C: How to complete the capital gains item on your entity's tax return

    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

    If your entity is required to complete a CGT schedule, you do not need to read this section: go to section 2 instead. If you are not sure whether you are required to complete a CGT schedule, check on Capital gains tax schedule in the introduction to this guide.

    If your company, trust or fund is not required to complete a CGT schedule:

    • transfer the amount at G in part H of your entity's CGT summary worksheet to A Net capital gain on your entity's tax return
    • add amounts at H and I in part I of your entity's CGT summary worksheet and show the total amount at Losses information, V Net capital losses carried forward to later income years on your entity's tax return.

    If you are an individual completing your 2002 tax return for individuals (supplementary section) or a tax agent completing a tax return on behalf of an individual:

    • transfer the amount at Total CYCG, part A3 of your CGT summary worksheet to H Total current year capital gains item 17 Capital gains on your tax return
    • transfer the amount at G, part H of your CGT summary worksheet to A Net capital gain item 17 Capital gains on your tax return
    • add amounts at H and I in part I of your CGT summary worksheet and show the total at V Net capital losses carried forward to later income years item 17 Capital gains on your tax return.
    Last modified: 06 Oct 2009QC 27417