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Capital gains worksheet in Practice Compliance

The CGT worksheet is available for 2025 Individual, Company and Trust returns.

The Capital Gains tax worksheet calculates capital gains based on the purchase price and selling price of assets that are subject to capital gains.

Keypoints

Breakdown of costs for each asset
For each CGT asset, enter the breakdown of the cost base to maintain a record of all expenses related to that asset. You can also include any exclusions (subtractions) in the same line item for each cost. For example, tax deferred or return of capital.

Summary of assets
As you enter the assets, the summary table will show the calculation of the gross capital gains or losses.

Distribution schedules (Trust and Managed fund)
The capital gains amounts from distributions to trusts and Managed funds schedules are integrated into this worksheet. These will be included in the calculations to calculate the net capital gain.

Capital losses worksheet
The capital losses from the CGT worksheets will be included in the capital losses worksheet when it is created.

Calculation of affordable housing asset
If you have an affordable housing asset, you can now enter the number of ownership days for the correct calculation of capital gains.

Check what gets lodged with the ATO
After you’ve finished entering the asset details, you can see where the amounts are integrated into the capital gains schedule without leaving the worksheet.

Using the CGT worksheet

Once you've entered all the assets in the worksheet, make sure you've created the Capital gains tax schedule for the amounts to integrate into the tax return.

  1. Open the Capital gains worksheet from item 18 or the Schedule and worksheet drop-down

  2. In the worksheet, select Add asset to start adding the asset.

  3. Enter the asset details:

    1. Description: The name of the asset

    2. Asset type: Select the category of asset from the drop-down.

    3. Does the full main residence exemption apply to this asset? : If you select Yes, then the capital gains will be zero.

    4. Acquisition date & Disposal date: Make sure the Disposal date is within the financial year.

  4. Costs incurred section: In this section, enter all the expenses related to the asset.

    1. Use the Amount excluded field to enter any subtraction for that cost line item.

    2. Date of cost must be within the acquisition and disposal dates.

  5. Cost base: All the amounts entered in the Costs incurred section will be summed up into this field.

  6. Ownership percentage: Enter the individual's share for this asset.

  7. Capital gains proceeds: Enter the selling price of the asset.

  8. I want to choose the CGT method: Select Other or Discount method.

  9. Is this an affordable housing asset: If you select Yes, make sure you've completed the details relating to the affordable housing discount.

Create a capital gains schedule to integrate the amounts into the tax return

Don't forget to create a capital gains schedule to integrate the amounts into the tax return.

To add the schedule, select the Capital gains tax in the top right corner of the worksheet or select from the Schedules and worksheets drop-down.

View the Asset summary

You can see a summary of the CGT assets you've entered in the worksheet and any capital gains integrating from other worksheets, such as distributions from a Trust, partnership, etc.

View the capital gains tax schedule amounts in the worksheet

Select Yes at Display the detailed capital gains schedule integration disclosure to see all the details that will be lodged with the ATO.

CGT scenarios only available in AE/AO

  • (Company and Trust returns) Rolling over capital losses from AE/AO: If there are amounts in the Losses schedule (bp) in AE/AO, they will roll over into Practice Compliance and into the losses schedule and capital losses worksheet.

  • (Individual returns)Rolling over of capital losses from previous years: If you have tax losses in prior years, they will not roll over yet. (from AE/AO or Practice Compliance).

  • Sharing of the CGT asset with another tax return: You can add the ownership % for the taxpayer where you've added the CGT worksheet, but you can't share it with another tax return. Create the CGT asset in both returns and enter the correct ownership % for that client.

  • Identifying the source of integration from other worksheets: If the CGT amount is integrated from another worksheet, there is no identifier on which worksheet it belongs to. For example, distributions from trust, partnership etc.

  • Auto-creating the capital gains schedule after completing the CGT worksheet: You must manually create the Capital gains tax schedule to integrate into the tax return.

  • Calculating the following:

    • Foreign resident capital gains withholding amounts

    • Indexation

    • CGT exemptions/concessions

      • CGT concessions for small businesses at Item 5 on the CGT schedule

      • Other CGT information required (if applicable) relating to exemptions and disregarded gains at Item 8 in the CGT schedule