Current year capital gains and losses
Using the following categories, enter the 2019–20 total capital gain or capital loss amounts:
- shares in Australian listed companies
- other shares
- units in Australian listed unit trusts
- other units
- Australian real estate
- overseas real estate
- collectables
- other assets
- capital gains from trusts (including a managed fund).
Do not include capital gains that are disregarded, deferred or reduced, or capital losses that are disregarded, see Exemptions and rollovers.
For more information, see Capital gains tax.
Capital losses applied
Total current year capital losses applied: Enter the amount of current year capital losses you can apply to reduce your current year capital gains.
- If you have current year capital losses that can be deducted, you can't choose to defer those losses to a later income year. For more information, see Applying current year capital losses.
Total prior year net capital losses applied: Enter the amount of any remaining prior year net capital losses you can apply to reduce your current year capital gains, after you applied current year capital losses. Prior year net capital losses are the unapplied net capital losses carried forward from earlier income years.
- If you have prior year net capital losses that can be applied, you can't choose to defer those losses to a later income year.
- You can deduct prior year net capital losses from any remaining capital gains in the way that produces the best result. However, you must deduct them in the order in which they were made. For example, you must deduct a 1995–96 income year capital loss before a 1998–99 income year capital loss.
- If you have capital losses from collectables you can only apply those to your capital gains from collectables.
For more information, see Applying net capital losses from earlier years.
Total capital losses transferred in applied: You can leave this field blank. This field is only applicable to group companies with net capital losses transferred in.
Unapplied net capital losses carried forward
Net capital losses from collectables carried forward to later income years: Enter your net capital losses from collectables.
- If you have capital losses from collectables you can only apply those to your capital gains from collectables.
- If your prior year capital losses from collectables are greater than your current year capital gains from collectables remaining after applying current year capital losses from collectables, you need to reduce them to the amount of the gain.
- Any unapplied prior year net capital losses from collectables are carried forward to later income years.
Other net capital losses carried forward to later income years: Enter your unapplied capital losses. They will be available to reduce capital gains in later income years.
CGT discount
Total CGT discount applied: You can reduce any remaining current year capital gains after applying losses, using the discount method by the discount percentage (50% for individuals).
- You can't apply the discount to capital gains calculated using the indexation method or the 'other' method.
- Individuals (including a beneficiary of a trust and a partner in a partnership) who have a period of foreign residency after 8 May 2012 may not be entitled to the full 50% discount on a capital gain from a CGT event that happened after 8 May 2012.
See also:
CGT concessions for small business
If you are a small business owner, you may qualify for one or more of the following small business CGT concessions:
- Small business active asset reduction
- Small business retirement exemption, or
- Small business rollover.
For more information, see Small business CGT concessions.