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Step 4-Capital losses

Last updated 5 October 2009

If you have no current year capital losses or prior year net capital losses, go to step 7. Otherwise, read on.

From your Capital gain or capital loss worksheets, add up all your capital losses for 2001-02 and make a note of this amount. Remember that you do not include:

  • capital losses from personal use assets
  • capital losses from collectables or
  • capital losses that are disregarded.

If you have a current year capital loss, go to step 5. If you have only prior year net capital losses and no capital gains, go to step 6.