Advanced guide to capital gains tax concessions for small business 2010-11

Applying capital losses

If the small business 15-year exemption applies, you do not reduce the capital gain by any capital losses before you apply that concession.

In all other cases, you apply the CGT discount and the small business concessions to the capital gain after the capital gain has been reduced by any current and prior year capital losses.

If you have more than one capital gain, you can choose the order in which your capital gains are reduced by your capital losses.

Sections within How do you apply losses, concessions and the discount?

• Applying capital losses
• Applying the discount and concessions
• The order in which to apply the discount and concessions
• Depreciating assets
• Choosing the small business concessions
• Distributions out of concession amounts: tax consequences
• Complying superannuation funds and the concessions
• Extensions of time