Offsetting capital loss

[#1]

If I have a capital loss of $10,000, can I use it to offset against future capital gains over multiple financial years, until I have offset the entire $10,000?

[#2]

Yes, capital losses are carried forward

[#3 · Accepted solution]

Hello @Skpiu

Welcome to the ATO community

Yes @SM2304 is correct.

You can't deduct a net capital loss directly from your income, but you can carry it forward and deduct it from capital gains in later income years.

If you require more information, I recommend looking at the following links:

• Working out your capital gain or loss

• Working out your capital loss

• Working out your net capital gain or loss

Hope this helps. Have a great day