Activate "Capital Gain" from Financial image
You have 2 options:
a. Fill the form manually, GUIDE HERE (or, simply follow the ATO Form instructions)
b. Granular approach - using the LodgeiT Detail option, this approach is more flexible as it contains additional details required for automatic calculation, completely follows the ATO instruction and constantly updating on ATO requirements change.
Add the details including costbase and sale of each disposed of capital asset.
Learn more here - WORKSHEET: CAPITAL GAIN TAX
If you select "Add", you will need to have the relevant information per disposed of asset -
Note that you will have the option to utilise losses manually. If you elect NO, then LodgeiT will automatically apply losses to gain.
Q: While Distribute Trust income, Capital Gain not reflecting in Beneficiaries Tax Return
A: Net capital gain is not distributed from Beneficiary worksheet. Instead, please create CGT worksheet in one of the individuals and fill it there. Learn more from this guide WORKSHEET: CAPITAL GAIN TAX
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