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Do I have to declare income from capital gains?

Yes, you must declare all income from capital gains on your tax return. Capital gains result from selling an asset, including real estate, shares, and managed fund investments. A capital gain is the difference between the asset’s cost base (what you paid for it) and your capital proceeds (what you received when you sold it). Capital gains can also be distributed to you by a managed fund or other unit trust.

Do note that though the ATO often refers to a ‘capital gains tax’ (CGT) there is no separate tax on capital gains - they are simply treated and taxed as part of your overall income.