Capital Gains Tax (CGT) Checklist: Property & Shares

The core rule of CGT is: Selling Price - Cost Base. The more purchase and holding cost documents you can provide, the higher your Cost Base becomes, and the less tax you will pay. Do not miss a single invoice!

If you have sold an investment property, shares, or commercial assets during the financial year, use this interactive checklist to gather all necessary evidence. Once ready, contact us to accurately calculate and minimize your CGT liabilities.

Asset Disposal Checklist

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1. Property Sale

Tip: The CGT event triggers on the Contract Date you signed, NOT the settlement date.

Acquisition Documents (When you bought it) Original purchase contract, settlement statement, stamp duty receipt, and conveyancing/legal fee invoices.

Disposal Documents (When you sold it) Sale contract, final settlement statement, real estate agent commission invoices, advertising costs, and legal fees.

Capital Improvements Receipts Invoices for any renovations, extensions, or major repairs (e.g., adding a sunroom, new kitchen) that haven't already been claimed as depreciation deductions.

Main Residence Exemption Evidence If you ever lived in the property as your main home, provide the exact move-in and move-out dates. If it was later rented, provide the professional valuation report from the date it was first rented.

2. Shares & Managed Funds Sale

Broker Annual Tax Report Log into your CommSec, CMC, or NabTrade account and download the annual tax summary for the financial year.

Buy Contract Notes Showing the exact purchase dates, quantities, share prices, and brokerage fees paid when acquiring the shares.

Sell Contract Notes Showing the exact sale dates, quantities, sell prices, and brokerage fees deducted.

Dividend Reinvestment Plan (DRP) Statements If you opted into DRP (using dividends to automatically buy new shares), each DRP is treated as a new purchase. We need all statements to calculate the separate cost bases.

3. Carried Forward Capital Losses

Prior Year Tax Returns (Losses) If you claimed capital losses in previous years (e.g., sold shares or crypto at a loss) and haven't used them up, provide your previous tax returns. These can 100% offset your current year's profits!

Expert Advice: As long as you held the asset for more than 12 months, you are eligible for a 50% CGT discount. The ATO calculates this strictly by the day. If you need help compiling these documents, please contact Loyal Bright Accountants.

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