If we incurred a tax loss by selling shares at a loss, does this loss offset any gains subsequently?
eg sold xxx shares for a monumental loss this FY (say $150k loss) then bought yyy shares and sold for a profit (say $20k profit), do we still have to pay CG on the first 50% of the $20k, or can we offset the monumental loss against the modest CG?
sorry if it is a stupid question, but it reflects my lack of working knowledge.
