Can I offset a 2010 gain against a 2009 loss?

H

honkytonk

Guest
Hi,

I made a gain on the sale of rabodirect funds in 2010, but I made a larger loss on the sale of shares in 2009.

Can I offset some or all of the 2010 gain against the 2009 loss?

Thanks
 
No.

You can carry a loss for CGT purposes forward against future gains for CGT purposes.

Unfortunately, you can't set the loss against a gain on a fund as the fund is not subject to CGT. It is a different tax system.
 
I suspected as much. Thanks for clarifying the logic re: CGT
 
do you have to be registered as a business to offset CGT losses against future gains, that was my query also, revenue told me i could not do it with a normal tax return but only if it was a business,
 
what about gold or silver can you offset a capital loss in shares against a capital gain in precious metals,
 
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