Offset CGT paid on sale of property against losses on sale of shares

[alert]

Hi guys,

Two years ago we sold a house that that was not our PPR and paid a hefty CGT amount to the revenue.

Currently, we have a number of shares such that if we were to sell would result in a hefty loss, since I no longer see much chance of ever regaining our original capital in these shares I was wondering if we could "reclaim" the CGT we paid on the profit from selling the house by offsetting it against the loss on selling the shares?

Thank you,

ALERT.

 

[jpd]

Sorry, but no you cannot carry losses back in time. You can carry them forward indefinitely (for the moment), until such time as you make a capital gain in the future.