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How do I resolve this validation error? Total CGT discount applied' cannot be greater than total cur

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I've been trying to submit my Tax for a week now; keep getting this error.

"'Total CGT discount applied' cannot be greater than total current year capital gains less total capital losses applied multiplied by CGT discount percentage amount."

 

I don't know what I'm doing wrong.  Please help.

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ATO Certified

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Hi @valterdg

 

Welcome to or Community.

 

Without knowing your capital gains and losses amounts as well as any losses you are carrying forward from previous years, it is hard to answer your question, hence why @macfanboy has asked you for some further details.

 

You may find the answer to your question in the following thread: Capital gains on MyTax with losses carried over from previous years and CGT discount

 

For more information on how to complete the question in myTax, refer to the myTax 2019 Capital gains or losses section of the myTax instructions 2019 page on our website.

 

If you continue to have an issue, you can also utilise our myTax live chat service.

 

Hope this helps.

 

Thanks,

 

ChrisR

2 REPLIES 2

Taxicorn

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@valterdg 

 

Ok, what is your:

 

  • Current year capital gain = A
  • Current year capital loss = B
  • Losses carried over from previous years = C
  • Total CGT discount applied = D

 

Best answer

ATO Certified

Community Support

Replies 0

Hi @valterdg

 

Welcome to or Community.

 

Without knowing your capital gains and losses amounts as well as any losses you are carrying forward from previous years, it is hard to answer your question, hence why @macfanboy has asked you for some further details.

 

You may find the answer to your question in the following thread: Capital gains on MyTax with losses carried over from previous years and CGT discount

 

For more information on how to complete the question in myTax, refer to the myTax 2019 Capital gains or losses section of the myTax instructions 2019 page on our website.

 

If you continue to have an issue, you can also utilise our myTax live chat service.

 

Hope this helps.

 

Thanks,

 

ChrisR

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