IRP7. Realise capital losses by 30 JuneWhy? Losses can be offset...

IRP

7. Realise capital losses by 30 June
Why? Losses can be offset against your capital gains.

With tax year-end date of 30 June fast approaching, you might consider selling investments that are making a loss, so you can offset these capital losses against gains you’ve made during the year to reduce your CGT (remember tax is just one factor to consider). The 50% CGT discount for investments held for over 12 months applies after you’ve offset any losses against your gains.

Conversely, you could consider delaying the sale of profitable assets until after 30 June to defer your CGT liability. Another reason for deferring sales until next financial year is that's when tax cuts announced in the Federal Budget kick in, reducing your income tax bill.

You may need professional tax and financial advice to help with these decisions.