TTH,Sorry mate but you definately can't offset your Losses from...

TTH,

Sorry mate but you definately can't offset your Losses from sharetrading against your Income Taxes from work......I wish you could mate lol

You can't also offset it against income from investment properties etc so your theory goes straight out the door unfortunately.

The only thing you can offset a Capital Loss is against a Capital Gain from profits of earlier share traders or the sale of an investment property etc.....simple as that!

Also, Capital Losses can be brought forward forever until you finally get a chance to offset them against a Profit in the future sometime, not just 3 years.

I'm not an Accountant but do follow CGT a bit for my own interests and I think the above is pretty right (or mostly right).

Good Luck All

PS - Yes of course there will still be some with Capital Gains Profits but these will be vastly in the minority this year compares to the previous few years etc.