This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
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The Tax Office provides easy-to-use online tools to take some of the complexity out of capital gains tax.
The Capital gains tax checklist gives you an easy way to determine possible CGT consequences now and in the future.
Use the checklist's question and answer format to determine:
- whether you are likely to have a capital gain or capital loss in the current income year
- whether you are likely to have a CGT event in the future, and
- what sort of records you need to keep.
To get the checklist, visit our website and select 'For Tax Professionals', then click on 'Tax Professionals homepage'. From the menu on the left, under 'Tax topics explained', select 'Capital gains tax (CGT)', select 'CGT for tax professionals' and click on 'Capital gains tax checklist'.
Capital gains tax updates, available through the above link, give you information on the latest CGT developments including:
- changes and proposed changes to the law
- new Tax Office rulings and determinations
- new ATO interpretative decisions (ATO IDs), and
- new online CGT resources.
The guide, Basic capital gains tax issues for legal professionals, provides detailed information on the CGT consequences of some common legal transactions. Topics covered include conveyancing, wills and the administration of deceased estates, family law, litigation and compensation issues and record keeping.
To get Basic capital gains tax issues for legal professionals, visit our website and select 'For Tax Professionals', then click on 'Tax Professionals homepage'. From the menu on the left, under 'Your tax practice', select 'Industries and business types', then click on 'Legal practitioner's essentials'. From this page, click on 'Capital gains tax information'.
Last modified: 21 Apr 2020QC 18504