Complete the CGT summary worksheet
The CGT summary worksheet is used to calculate your entity’s net capital gain for the income year or net capital losses carried forward to later income years. It also provides the information you need to complete the capital gains item on your entity’s tax return and, if required, the capital gains tax (CGT) schedule.
You should include on this worksheet any capital gain your entity is entitled to as a distribution from a trust.
The CGT summary worksheet is designed for entities that make capital gains or capital losses during the income year. However, you may also find it useful if you are an individual, including a partner in a partnership, who has more complex CGT affairs.
Note: Organise your worksheets so they are grouped by the type of CGT asset or event and transfer the capital gain or capital loss calculated for each group of worksheets to the CGT summary worksheet. Transfer a capital gain according to the method you used to calculate it and the type of asset that gave rise to it.
The CGT summary worksheet differentiates between capital gains from active assets and non-active assets. Generally, an active asset is a business asset the entity owns, such as the goodwill of a business. You will only need to differentiate your capital gains between active and non-active assets if you are going to apply the small business concessions.
A share and an interest in a trust can also be an active asset if certain conditions are met.