Calculating gains and losses in the tax return – sale of contract positions
Any gain made on the sale of a contract position will be taxable. Similarly, you can deduct any loss in the tax return.
Gains and losses made on the sale of contract positions must be entered in the tax return for the income year in which the contract position is taken over by the purchaser, even if the purchase sum is paid in full or in part in a different year.
What to do:
- Calculate the taxable gain/deductible loss and enter this in your tax return
Important information
You do not need to send us any documentation concerning this, but you must be able to present it upon request.