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Re: Offsetting capital loss

I'm new

Views 42

Replies 2

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?

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Community Support

Replies 0

Hello @Skpiu

 

Welcome to the ATO community Smiley Happy

 

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:

 

Hope this helps. Have a great day Smiley Happy

2 REPLIES 2

Devotee

Replies 1

Yes, capital losses are carried forward

Most helpful response

Community Support

Replies 0

Hello @Skpiu

 

Welcome to the ATO community Smiley Happy

 

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:

 

Hope this helps. Have a great day Smiley Happy