The ATO’s capital gains tax (CGT) record keeping tool allows you to record and save your asset and CGT event details, and calculate your capital gains or losses.
For assets with a CGT event date, the tool works out your net capital gain or loss amount for the year by applying the CGT calculation method that gives you the best result (in other words, the smallest net capital gain).
You can print a copy of the calculation results for your records, and the ATO says anyone using the tool can choose to remain anonymous.
If you use a myGov account to access the tool, you’ll be able to save your CGT records and direct these to the ATO for use in your tax return, which the ATO says is a valuable time-saver when you complete your tax return.
Note however that if you access the tool without a myGov account, you won’t be able to save your records to the ATO.
Information you may need:
asset purchase/acquisition costsexpense records (such as legal fees, stamp duty, advertising, brokerage)borrowing expenses (such as loan application and mortgage discharge fees)records of any repairs, maintenance and improvement costs.
If you change or add any details relating to an income year for which you’ve already lodged a tax return, you may need to amend that return.
You can access the tool through your myGov account, but if you or your client does not have one, you can access it direct here.
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