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  • Individual Tax Return
    • Individual: General
      • Activate "Individual Tax Return" Reporting Module/Manage Sections
      • Preparation of an Individual Tax Return (ITR)
      • Spreadsheet Example - Sole Trade Comparatives
      • Franking Credit Form (Refund) / Short Refund Return
      • Auto fill contact details
      • Notice of Assessment (NOA)
      • WHM and LITO (Low Income Tax offset)
      • Claiming Part Year Threshold with TFN Witholding from Interest Income
      • Additional Information / Notes for the ATO
      • Trust Account Consent Authority Declaration
      • Name must not exceed 15 characters / CMN.ATO.IITR.400044
      • Error: Period end date must be the last day of the month
      • Can I lodge the Final Tax Return of Individual Tax Return (ITR)?
      • Q&A: Why do we cannot activate the selection button in the CGT Schedule "Have you applied an exemption, rollover or additional discount?" ?
      • How to Prepare Nil Individual Tax Return
      • CMN.ATO.INCDTLS.000131 and CMN.ATO.INCDTLS.000132
    • Individual: Income
      • Adding "Dividends" manually
      • Label 18: Capital Gains (CGT)
      • Label 18: Capital Gains (CGT) - Multiple Trust Distributions
      • Worksheet: Capital Gain Tax (CGT) "Granular method"
      • IT1: Add Reportable fringe benefits amount
      • How to show estimated PAYG Instalments
      • Income Averaging - Non Primary
      • Label 20: Foreign Source Income / Net Foreign Source Employment Income
      • Managed Fund Distribution
      • Label 24: Special Professional Income
      • Interest on loans for shared owner
      • Dividend difference (Taxable and Accounting Facts)
      • Salary and Wage: Occupation Code Description
      • Foreign Rental worksheet
      • Label 10: Non-Australian Resident with Interest income
      • Individual Tax Return (ITR) with Partnership (with $20K loss assessable income)
      • Partnership Losses
      • Capital Allowance Recoupment
      • Rental Property Ownership Split (Rental Worksheet)
      • Rental Schedule from QuickBooks
      • Label 18: Capital Gain for Sold Property
      • Current Year Capital Gains" in Managed Fund
      • Item 18X: Credit for foreign resident capital gains withholding amounts (flowing to Estimate Tab: Credit for tax withheld – foreign resident capital gains withholding)
      • Trust Capital Gains
      • Non Resident Foreign Income (NRFI) Schedule
      • Lumpsum E-payment received
      • How to add employment termination payments
      • Label 6/ T2: Superannuation Income Stream
      • Unfranked Dividend with no TFN withholding for Non resident
      • Country of Residence
      • NRAS (Share of National Rental Affordability Scheme Tax Offset)
      • Income Average for a Sports Person
      • CMN.ATO.IITR.000263 / CMN.ATO.IITR.302101
      • Student Loan Repayment (SFSS loan)
      • Deductions for Managed Fund
      • Capital Gain Tax (CGT) distribution among investors
      • Unfranked Dividend appears in the Tax Form
      • Interest "Difference" in the tax form (ATO Prefill)
      • Foreign Resident Capital Gain Tax
      • Foreign income tax offset (FITO)
      • Non-resident Capital Gain Discount (CGT)
      • CGT discount on capital gains from Managed Fund
      • IT2 Reportable Employer Superannuation Contributions
      • Prior Year Net Capital Losses
      • Capital Gain Discount used
      • How to Exempt the Current Year Capital Gain?
      • Label T2: Australian superannuation income stream
      • Claiming Motor Vehicle Expenses Against Partnership Income
      • Superannuation Income Stream (Untaxed element)
      • Bonuses from life insurance companies and friendly societies
      • Carry Forward Foreign Property Loss
      • CMN.ATO.INCDTLS.000014
      • Label IT5: Net Financial investment loss Calculation
      • Partial "Expense" share amount for Rental Property
      • CMN.ATO.IITR.311085
      • 18V: Unapplied Net Capital Losses Carried Forward
      • Australian franking credits from a New Zealand franking Company (From Trust)
      • Label 18: Share Percentage for "Less Cost Incurred" in Capital Gain
      • Label 21: Reduce the capital loss that was carried over from previous years
      • Investment income
      • CGT gains distribution is not showing up
      • Label 20: Net Foreign Pension
      • Multiple Foreign Source Income Sources
      • Net foreign source employment income
      • Label 20: Foreign Source Income and Foreign Assets or Property
      • Label 20: Foreign Source New Zealand Franking Credits (Gross amount)
      • Label 20: Other Foreign Source Income
      • CMN.ATO.IITR.731359
      • Capital Gain (CGT) - Main Residence Exemption
      • CMN.ATO.GEN.430081 / Rental
      • Non-resident distribution / Share of credit for tax paid by trustee
      • Remove/Delete a linked "Trust" via ITR
      • Split amount for 2 owners "D6 Low Value Pool Deduction"
      • Rental Property Split (Rental Worksheet) - Manual Editing/Changing of Amount
      • Capital gains disregarded as a result of the Sale of Pre-CGT Asset
      • CMN.ATO.CGTS.402220 - Earnout arrangements
      • Item 13: Dividend Flow Through - Company -Trust-Individual
      • "The field cannot contain only spaces"
      • CMN.ATO.INCDTLS.000393 - Trust income details are incomplete
      • Using the CGT Worksheet for a Partially Exempt Main Residence Owned by a Couple
      • CMN.ATO.TRT.442903 Error — Build-to-Rent Capital Works Deductions
      • Reporting Capital Gain on Sale of Foreign Property and Foreign Income Tax Offset
      • Removing or Adjusting ATO Prefilled Dividends for a Non-Resident Taxpayer
      • Reporting Overseas Capital Gain for Australian Residents in ITR 2024
      • Employment Termination Payments (ETP) – Taxable Component Requirement
      • CMN.ATO.CTR.430023
      • Reporting Capital Gain Distribution from a Trust to a Non-Resident Individual in LodgeiT (ITR)
      • 24 E: Tax Withheld - Lumpsum Payments in Arrears
      • CMN.ATO.IITR.000222 / Jobseeker Withholding / CMN.ATO.INCDTLS.0000020
      • 24Y: Treatment of Lump Sum E Payments in LodgeiT
      • Rental Worksheet for Individual Tax Return (ITR)
      • ATO Prefill is more than 20 items under interest income?
      • Guide for Reporting Trust Income on Individual Tax Return
      • ITR Error Code: CMN.ATO.INCDTLS.000428
      • Other income or loss relating to carrying on a business
      • Capital Gain Tax (CGT) with prior year loss
    • Individual: Deductions/Expenses
      • "Deductions" tab
      • D12 - Personal Superannuation Deductions
      • "Validating" Work Related Expenses (D5)
      • D11: Deductible amount of UPP Foreign Pension or Annuity
      • Government Super Co-Contribution
      • D12: Personal Concessional deductions
      • Loss Carried Forward: Primary Production Losses and Non Primary Losses
      • Prompt: The Car make and model is required
      • Depreciation Data in the ITR Worksheet in LodgeiT (Without Using the Tools)
    • Individual: Offsets
      • Senior tax Offset (SAPTO)
      • T1 Seniors & Pensioners (SAPTO) for Widow/er
      • How Lumpsum tax offset calculated?
      • Invalid Carer Tax Offset
      • Invalid Careers Payment (T5)
      • Capital losses in the Managed fund section
      • Label T3: Superannuation contributions on behalf of your spouse
      • Label T1: Tax Offset for Single Parent
      • Issues with Excess Concessional Contributions Tax Offset (Division 293)
      • Superannuation Tax for Clients Over 80 Years Old (CMN.ATO.IITR.201014)
    • Individual: Medicare
      • Private Health Codes
      • Medicare Levy not available/NIL (not showing in "Estimate" tab)
      • How to Reduce Medicare Levy
      • Calculating off-set for private health insurance rebate non resident
      • Medicare Levy Surcharge
      • Medicare Levy Exemption
      • CMN.ATO.IITR.210035
      • Entering Number of Dependant Children for Medicare Levy Surcharge Threshold in LodgeiT
      • CMN.ATO.IITR.000600
    • Individual: Adjustments
      • Part Year Tax Free Threshold
      • How to Report Holiday Makers Wages
      • A1: Adjustments for Under 18 Excepted Net Income
    • Individual: Business
      • Description of Main Business
      • Applying PRIOR YEAR LOSS
      • Business & PSI Income
      • Car Expense for Business
      • Completing the Business Section of Individual Tax Return (ITR)
      • How to use Deferred Business Losses
      • Label 14: Personal services income (PSI)
      • Non Deductible expenses - PSI
      • How to Record Jobkeeper
      • Non Commercial Losses - Profit business A Loss Business B
      • Small business tax offset
      • Business worksheet (Financials imported from 'QuickBooks Online')
      • Negative PSI / Net PSI Loss
      • Small Business Skills and Training Boost / Small Business Technology Investment Boost
      • Button: Assessable government industry payments
      • Handling Cash Flow Boost reporting
      • How to Access Livestock Calculator in Individual Tax Return
      • Depreciation on Business Income in Individual Tax Return (ITR)
      • Why the prefill is going into PSI not to "other labour income"?
      • Temporary Full Expensing for Sole Trader
      • Label Z
      • ANZSIC Code (P2-Business): "Aged or Disabled Carer"
      • Motor Vehicle depreciation - related to business in ITR (Individual Tax Return)
      • Deferred Non-Commercial Business Losses - prior year loss only in the Current Year ITR form
    • Individual: Income Test
      • IT6: Adjusted Taxable Income (ATI) and Net Rental Property Loss calculation
      • Adjusted Taxable Income (ATI) and Estimated Total Income
      • Child Support
      • Income Test: Estimated Total Income and Estimated Eligible Income
    • Individual: Estimates
      • HELP-HECS Debt
      • HECS Repayment Calculation
      • Where to find HECS-HELP Repayment?
      • Low Family Income / Repayment Threshold for HECS
      • Claiming back the withholding tax for non-resident
      • Notional Tax Section
      • How to Calculate " Tax on Taxable income"
      • How Tax Estimate is calculated for part-year resident Working Holiday Maker?
      • Estimate: Income Averaging for Primary Production
      • How is "Compulsory Higher Education Loan repayment (HELP)" calculates
      • HECS and Help Repayment
      • HECS (Worldwide income)
      • "Estimated total income" and "Estimated total"
      • Zone Tax - Offset
      • Excess Concessional Contributions (Tax Offset)
      • Small business income tax offset on trust distributions
      • Adjustment for Super Contributions
      • Disable/ Irrelevant "Income averaging – Primary producer"
      • Q&A: Why does Number of Prior Years amounts of Income Averaging - Primary Producer always show in the Estimate Section?
      • Income Averaging tax offset
      • Q&A: Why is the tax rate 45% in the ITR (Individual Tax Return)?
      • Handling Excess Concessional Contributions in Tax Estimation
  • Company Tax Return
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Solution home Individual Tax Return Individual: Income

Capital gains disregarded as a result of the Sale of Pre-CGT Asset

Modified on: Thu, 8 May, 2025 at 1:21 PM

In case when capital gain is fully exempt, it may not be included in tax form. User can remove amount and fill only exemption code. Below is the sample image on how you will fill-up the CGT Schedule:

ATO related link-  https://www.ato.gov.au/individuals-and-families/your-tax-return/instructions-to-complete-your-tax-return/mytax-instructions/2024/income/australian-income-or-losses-from-investments-or-property/capital-gains#CGTexemptionrolloveroradditionaldiscount





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