You should check out www.ato.gov.au and search for CGT.
To answer the question yes you take off you C/F capital losses etc before applying the discount.
For what it's worth FDL AKA FMS may bounce about a bit but with drilling soon the bounce should be good given the reaction to the rock chip samples:)
IOM DYOR
FDL
flinders diamonds limited
capital gain tax, page-5
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