Tax help, page-30

Slight correction to the previous post.

From the 2013/14 Tax Pack - Supplement Section - Item 18

https://www.ato.gov.au/Individuals/...rn/Income-questions-13-24/18---Capital-gains/

Scroll down the page to COMPLETING THIS ITEM.

Completing this item

Step 1

Read the publication that is relevant to your circumstances and work out the amount of your capital gain or capital loss for each CGT event that occurred, and the amount of your capital gains from a trust (including a managed fund) for the 2013–14 income year.
Step 2

Add up all your capital gains for the 2013–14 income year (except the ones that are disregarded) to work out your total current year capital gains. Do not apply capital losses, any CGT discounts or the small business concessions (other than the 15-year exemption) yet. Write this amount at H item 18 on page 14 of your tax return.
mce-anchorStep 3

Work out your net capital gain or net capital loss. This is the amount remaining after applying to your current year capital gains whichever of the following items are relevant to you (in the order listed):

• capital losses from this year
• unapplied net capital losses from earlier years
• any CGT discounts
• the small business 50% active asset reduction
• the small business retirement exemption or rollover.

If you have capital losses to apply, you will find it to your advantage to apply them first to any capital gains that do not qualify for the CGT discount.

Hope that clears it all up.