Off-setting share losses against rental tax

T

TRipley

Registered User
Messages
76
I sold shares at a loss in 2009, can I off-set the losses made in 2009 from this share transaction against taxable profit generated from rental income of an investment property during 2009?

Many thanks for your guidance,
 
No. The loss from shares is a capital loss. The profit from rental income is income and taxed under income tax. You can carry forward the loss though to future years and use it say if you sold the rental property for a profit.
 
thanks Galwayboy, so to clarify, while it can't be off-set against rental income it can be off-set against capital gains tax on selling the property?
 
You must log in or register to reply here.
Back
Top