cgt loss

Just wondering if anyone can answer this tax question from a newbie -

I am sitting on a capital loss on a share but I believe that in the longer term it is going to turn around. Can I book a capital loss this tax year, (which I might potentially rollover given my losses outnumber the gains this year) then buy the same share straight away?

As the share increases in value, I can sell after a year and a day then use the discount method to calculate my capital gain. (Which may in fact be then tallied against the loss rolled over on the very same share from the previous year!

Can anyone tell me if this is all allowed?

Tried checking the ato website but could not find anything. Thanks in advance.