This article explains why a capital gain is not automatically populated in the capital gain worksheet when selling an asset that was only partly used for taxable purposes.
For example, in a report showing each asset’s partial use, according to the ATO’s Disposal of a depreciating asset , the portion of the sale attributable to taxable use is treated as Other income, while the non-taxable portion may be considered a capital gain.
As a result, LodgeiT does not automatically complete the capital gain worksheet in this scenario, and users need to enter the capital gain details manually.
Related guides: