Hi there,
I didn't realise that I had to report capital losses, even If I hadn't made capital gains that year. How do I add these in now? Do I have to amend previous tax returns, or can I add them in retrospect in this year's return? Its the last two financial years, <$500 in losses. No gains. Losses from selling shares.
Thanks!
Hi @Auroras_Panic,
You can apply the capital losses or start reporting them now, as long as you have very detailed records of the losses, there is no need to amend.
You need to amend your previous year's tax returns to report them.
Hi @Auroras_Panic,
You can apply the capital losses or start reporting them now, as long as you have very detailed records of the losses, there is no need to amend.
Hi KylieATO,
We have a similar situation to the original person that you responded to. However, our accountant is disputing that we don't need to amend previous returns - and sent us a quote to amend the previous returns. Is there any material online that clearly explains what is / isn't required that we can use to support your response here?
Hi @dan_e,
I understand where the accountant is coming from because that would be our normal process. We have nothing documented but the reason we don't require you to amend is because it has no bearing on the result of the old returns. We ask you to keep all the relevant information so you can substantiate your loss.
15 Apr 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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