your total capital losses for the year and any unapplied net capital losses from earlier income years
minus
any CGT discount and small business CGT concessions to which you are entitled.
If your total capital losses for the income year are more than your total capital gains, the difference is your net capital loss for the year. You can carry it forward to later income years to be deducted from future capital gains. (You cannot deduct capital losses or a net capital loss from your income). There is no time limit on how long you can carry forward a net capital loss. You apply your net capital losses in the order that you make them.
