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50% capital gains tax discount on shares and deducting previous years capital loses, page-5

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geffa9

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22/07/22

22:52

Post #: 62685133
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Originally posted by holdenman ↑

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.

Thanks.

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HAve a chat to your accountant but I’m 100% sure it is deduct carried forward losses than do the 50% discount on what is left.
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