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Steps you need to take

Last updated 9 September 2010

The completion of the CGT labels on your entity's 2010 tax return involves a three-step process (for entities with capital gains or capital losses under the $10,000 threshold) or a four-step process (for entities with capital gains or capital losses over the $10,000 threshold):

Step 1 Calculate the capital gain or capital loss for each CGT event that happens during the 2009-10 income year using the Capital gain or capital loss worksheet (PDF, 96KB).

Step 2 Calculate the net capital gain for the 2008-09 income year or net capital losses carried forward to later income years using the CGT summary worksheet (PDF, 210KB).

Step 3 Complete the capital gains item on your entity's tax return.

Step 4 If required, complete a CGT schedule.

QC28058