Just wondering if anyone can answer my question...ATO couldn't today and will be getting back to me next week. I also cant find anything specific on their website to my situation.
In regards to the 50% capital gains tax discount on shares. I have a capital loss from previous years.
Do I apply the 50% CGT discount on my shares I sold which I have held for longer than 12 months first, then deduct that half from my capital loss from previous years?
Or do I deduct my previous years capital loss from my capital gain first? Then once that is gone apply the 50% CGT discount?
If anyone has been in the same situation and knows the answer it would be appreciated. I will also post what the ATO tells me next week when they get back to me.
