Hello Zonta.
The tax issue can get complicated. Short version is yes, capital gain losses can usually be offset against gains.
I strongly recommend seeing an accountant (not a tax agent) - they'll open your eyes to deductions you may miss otherwise.
If you can't spring for that, PLEASE check ato.gov.au before lodging your return. http://ato.gov.au/individuals/content.asp?doc=/content/65605.htm&pc=001/001/038/002/003&mnu=&mfp=&st=&cy=1 is a great start point.
dead cat bounce, page-12
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