How to meet your CGT obligation



This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

To meet your CGT obligations, follow these three main steps:

Step 1

Decide whether a CGT event has happened.

Step 2

Work out the time of the CGT event.

Step 3

Calculate your capital gain or capital loss.

Keep your records

You need to keep good records of any assets you have bought or sold so you can correctly work out the amount of capital gain or capital loss you have made when a CGT event happens. You must keep these records for five years after the CGT event has happened.

You should also keep records relevant to a net capital loss that you carry forward as part of unapplied net capital losses. You may be able to apply this net capital loss against a capital gain in a later year.

Last modified: 06 Oct 2009QC 27788