The way of recording costs incurred for assets to align with ATO cost base rules. Now Capital proceeds is the amount of money received as a result of a CGT event. All purchase costs must be recorded in Less costs incurred field.
First, activate the "Capital Gain" via Financial Image, learn more HERE
The purchase cost was $6,573 50% = $3,286.5
The sale proceeds was $5,841 50%= $2,920.5
Capital loss of ($732) 50%= ($366)
Note: Capital proceeds should be the whole amount as 50% share is auto calculated as "capital proceeds share". Make sure to fill the "Purchase Date"
Learn more from the below:
"Less Cost incurred"
Work out a cost base of an asset by splitting its costs into 5 elements. Please note that since now Capital proceeds is the amount of money received as a result of a CGT event.
Main residence exemption
You can apply full or partial main residence exemption. In order to apply the exemption use the Less main residence exemption field.
Please note, you have to calculate the exemption amount manually.
Exemption or rollover code
Select multiple exemption or rollover codes directly on a worksheet.
Prior Year Net Capital Losses (ITR)