The flowchart below shows the order in which you apply capital losses and the CGT concessions to each capital gain made after 11:45 am on 21 September 1999.
You don't necessarily have to go through each step. For example, if you qualify for the small business 15-year exemption, you can disregard the entire capital gain and, therefore, don't need to complete the remaining steps.
Also, you can choose not to apply the 50% active asset reduction and go straight to the small business retirement exemption or rollover.