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08/09/18
18:30
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Originally posted by Braintot
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I sold the shares in June and that's counted as a capital losss for last year and ok to be used as an offset for a capital gain made last year even though the money didn't come in until this financial year.
I actually had a brain-fumble/forgetfulness in my post because I sold some BHP shares last financial year (average purchase price $17) and offset with the capital sgh loss then sold the property and it wasn't settled until july so I have to sell more sgh I think this fin. year.
I don't think that you ever break even when you offset losses because you are only reducing the tax you pay on the gains, not getting the full amount back but it's better than nothing.
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Yes and the broker contract will have the transaction date when you sold. You're right that CGT offsetting doesn't return the value of money lost but it's better then nothing.