great nickel broker report out, page-13

If individuals sell a stock, and chose to crystalise either a profit or loss,both are assessable in the current activities in that current year.
I might be vague or just tired, but its not against the law to make a loss.
You can also chose to repurchase the very same stock on the 1st July and "reset" your purchase date for that equity.
You might have a number of profits from stock trading and no corresponding offset losses; as I understand it you could crystalise a loss by selling a "dog" in the current year thereby generating an offset loss, and then rebuy the very same stock in the next year 1 day later if you wanted to.