G'day Red,
I believe the 12 month rule provides a 50% discount rather than a 'non-disclosure' of 50% and that capital losses are taken off the gross capital gain prior to the discount is applied, ie:
$1,000 Gross Capital Gain
($500) Capital Loss
$500 Net Capital Gain
$250 Assessable Capital Gain
Cheers
Rhys
QGC
queensland gas company limited
