Step 4 Capital losses

Warning:

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

End of attention

If you have no current year capital losses or unapplied net capital losses from earlier years, go to step 7. Otherwise, read on.

From your Capital gain or capital loss worksheet, add up all your capital losses for 2011-12 and make a note of this amount. Remember that you do not include capital losses:

• from personal use assets
• from collectables
• that are disregarded (for example, those from assets acquired before 20 September 1985), see Exemptions.

If you have a current year capital loss, go to step 5.

If you have only unapplied net capital losses from earlier years and no current year capital gains, go to step 6.