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  • Step 5



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    From your capital gains tax worksheets, add up all your capital losses for 1999-2000 from collectables and other CGT assets.

    Remember that you disregard capital losses from personal uses assets and any capital losses which are exempt. Capital losses from collectables can be applied only to reduce capital gains from collectables.

    Make a note of each capital loss, then:

    • If you have a current year capital loss from collectables or from other CGT assets, go to step 6.
    • If you have only prior year net capital losses, go to step 8.
    • If you have no current year capital losses or prior year net capital losses, go to step 10.
    Last modified: 18 Sep 2009QC 18323