May 31, 2017 Rebecca Mackie

Have you made a capital gain this financial year?

Rebecca Mackie

Rebecca Mackie

Partner
Rebecca Mackie has extensive experience dealing with tax and structuring advice for property investors and developers.

If you find yourself with a capital gain this year because you sold an investment property or some shares, it is time to take stock of your other investments and determine if now might be the right time to realise a capital loss. Capital losses can only be offset against capital gains and can be a way of reducing your taxable capital gains.

You might have some assets or investments that have lost value from their original purchase price. If this is the case and you no longer wish to retain the asset or believe that it is unlikely that they will recover their original value, then it might be worthwhile selling the asset and crystallising the loss in the same year as you have made a capital gain. The offset of the loss will at least cushion some of the impact of the gain and potentially reduce the tax payable.

Rebecca Mackie, Partner, Paris Financial

Follow me on Twitter

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

, , ,
Rebecca Mackie

Rebecca Mackie

Partner
Rebecca Mackie has extensive experience dealing with tax and structuring advice for property investors and developers.

Thank you for providing your email address. You’re now connected with our Small Business Tax Champions.

Do you want insight into the latest tax news and cutting-edge financial advice?

*Required field