Capital Gains Tax Record Example
Example document for Capital Gains Tax Record. Use this as a reference when creating your own.
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Document: Capital Gains Tax Record
Example Document
Last updated 7/30/2026
Capital Gains Tax Record Sheet
Asset Details
Asset Description: 2018 Ford Transit Custom Van Asset ID: VEH-005 Date of Acquisition: 15/06/2018 Date of Disposal: 20/03/2023 Asset Used For: Mobile plumbing service and tool storage Business Use Percentage: 100%
1. Initial Cost Base
| Description | Date | Amount ($) | Receipt/Invoice Reference |
|---|---|---|---|
| Purchase Price | 15/06/2018 | $45,000.00 | Ford Dealer INV-9988 |
| Stamp Duty | 20/06/2018 | $1,800.00 | Vic Roads REC-1122 |
| Registration / CTP | 20/06/2018 | $800.00 | Vic Roads REC-1122 |
| Total Initial Cost Base | $47,600.00 |
2. Capital Expenditure / Improvements
| Description | Date | Amount ($) | Receipt/Invoice Reference |
|---|---|---|---|
| Custom Shelving Installation | 10/08/2018 | $2,500.00 | Custom Fit INS-5544 |
| Roof Rack & Ladder | 10/08/2018 | $1,200.00 | Custom Fit INS-5544 |
| Mechanical Repair (Engine) | 05/02/2021 | $4,000.00 | Joe's Mechanical MECH-7788 |
| Total Capital Expenditure | $7,700.00 |
3. Disposal Details
Sale Date: 20/03/2023 Buyer Name: John Smith Plumbing Sale Price: $38,000.00
Disposal Costs
| Description | Date | Amount ($) | Receipt/Invoice Reference |
|---|---|---|---|
| Advertising - Gumtree | 01/03/2023 | $50.00 | Receipt PDF |
| Total Disposal Costs | $50.00 |
4. Calculation
A. Total Cost Base $47,600.00 + $7,700.00 = $55,300.00
B. Capital Proceeds $38,000.00 - $50.00 = $37,950.00
C. Capital Gain or Loss $37,950.00 - $55,300.00 = -$17,350.00 (Loss)
Adjusted Capital Gain/Loss: -$17,350.00 (100% Business Use)
5. Supporting Documents Checklist
- Purchase Invoice / Contract
- Sale Invoice / Contract
- Receipts for all improvements
- Receipts for disposal costs
- Loan documents
- Depreciation Schedule
Notes: Sold van due to upgrade. Loss of $17,350.00 can be carried forward to offset future capital gains. Mechanically repaired engine was deemed an improvement rather than a repair as it increased the value and lifespan of the vehicle significantly.
Notes
This example shows a capital loss situation common for tradespeople. The van was sold for less than the total cost base, which included the purchase price, stamp duty, and significant custom shelving required for the business. The engine repair was classified as a capital improvement because it d the vehicle's value, not just restored it to its original condition. The calculated loss can be used to reduce tax on other capital gains in the current or future financial years.
About this Example
Part of the Capital Gains Tax Record document collection
Document Type
Capital Gains Tax Record
A detailed log used to track assets for Capital Gains Tax purposes. It records purchase and sale details to calculate taxable profits when you sell business assets.