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Golden Fleece

3,518 Posts.

261

10/01/21

10:23

Post #: 50063163
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Originally posted by optionsjnr: ↑

I have some 5k of losses declared with the ATO from previous years.
This financial year I have 1k of profit.

Do I include this 1k in tax return

or

just deduct it from the losses I have declared with the ATO and not mention it in tax return?

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If you are talking about a capital loss then you simply put $4,000 in the capital losses carried forward box

Not financial advice; simply my understanding of tax law
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