Capital Loss Inquiry

[5haretrader]

A quick question,

If in the year of 2009-10 I have made a $3000 capital loss but have not made a capital gain, do I carry forward this loss into the next financial year or can I claim this capital loss off my income?

Thanks alot for your help because this one has had me stumped

 

[TheBull]

You carry the capital loss forward to next tax year when capital gains are realised. It cannot be offset against income.

 

[wildkactus]

yep as the bull said

a capital loss can only be offset against a capital gain, you can carry these over untill you have a gain to offset it against.

same with income profit and losses, can be only offset against each other

Happy Trading