Let's keep it real, page-48

GW - it's not a complex thing. Just consider any gain as income on top of your usual salary and likewise any loss as a tax offset in any one tax year. If your realised gains end up being $10k more than your losses, then you pay tax on that. If your losses are more than your gains, then you pay no tax on your shares and can carry forward your losses to future years. In the instance that you hold a stock for over 12 months and then sell for a profit, you discount the gain by 50% when calculating your CGT. Losses on stocks held over 12 months aren't discounted and you still get the full benefit of the tax offset. Presumably you're talking about day trading so I'd say you won't be needing discounts.