About the Capital Gains Tax Asset Register kit

Overview

Have you used your main residence to produce income?

Do you own any other land or property?

Have you acquired a collectable asset which cost more than $500?

Do you own shares in a company or units in a unit trust?

If you answered YES to any of the above questions, you are best to keep records including details of acquisitions, disposals, deferred capital amounts, additions, improvements and other expenditure. In most circumstances, you are required to retain such records for 5 years after you dispose of your asset!

You may not sell the asset for 50 years. You may then die and your children keep the asset for another 50 years. Where are the receipts after 100 years when the grandchildren decide to sell.

What happens when you lose the receipts after say 20 years? This is why you need the CGT Asset Register.

Recording your receipts in your CGT Asset Register is the smartest, simplest and safest way of complying with the ATO’s requirements for asset record-keeping.

Your accountant merely, every so often, signs off on the Capital Gains Asset Register to say that he has cited the receipts.

Will this document fulfil your needs?

Would you like to know in advance whether this document contains all of the clauses and provisions you need?

Depending on how you answer the questions, there are many possible ways your final document will look. However, we have produced an example based on the most common answers.

To see a sample of what your ‘Capital Gains Tax Asset Register kit’ will look like, click here.

Note: The sample of your ‘Capital Gains Tax Asset Register kit’ may not be the complete document. Most of our samples only provide you with the first few pages of the document. If you wish to see the entire document, just purchase the document. If you are not happy with the document for any reason let us know and we will happily refund your money.

To view the sample of ‘Capital Gains Tax Asset Register kit’ you will need Adobe Acrobat.