Capital Gains on Shares

Question

 · Accepted Answer

knaresbro · Answer

See this ATO page (https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/cgt-discount) which says losses before discount, and also this ATO page (https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/calculating-your-cgt/using-capital-losses-to-reduce-capital-gains) covering in which order losses should be applied to gains. Current and prior year losses must be deducted from the current year gain as a first step. And you must use losses at the first opportunity. If the net gain has been reduced to zero and you still have losses remaining, they're carried forward. If the net gain is positive, you can then apply the 50% discount provided the assets involved were held for long enough.

Explore tax & super topicsExplore tax & super topics

About usAbout us