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If you qualify for the small business 15-year exemption, you can entirely disregard the capital gain and do not need to apply any other concessions. Further, you do not have to apply capital losses against your capital gain before applying the 15-year exemption.
If the conditions are satisfied and you make a capital loss from the CGT event, you may use the capital loss to reduce other capital gains.
Last modified: 30 Jun 2009QC 27964