• Capital gains

    Your SMSF’s assessable income includes any net capital gains. Complying SMSFs are entitled to a CGT discount of one-third if the relevant asset had been owned for at least 12 months.

    A net capital gain is:

    the total capital gain for the year

    less

    total capital losses for that year and any unapplied capital losses from earlier years

    less

    the CGT discount and any other concessions.

    A capital loss (for example, losses on the sale of commercial premises) is not an allowable deduction and is only able to be offset against capital gains. If capital losses are greater than capital gains in a financial year, they must be carried forward to be offset against future capital gains.

    See also:

    Last modified: 16 Jun 2015QC 23344