Overpayment of capital gains - credit due

[Iamyourfriend]

Hey friends,

Capital gains is paid over 2 periods: January - November, and December. I made gains in the first period which I paid, and losses in the second period, which reduces my overall tax. Do I get a refund into my bank account for this overpayment or it is a loss I use to offset future gains? If the latter do I have to use up the loss before I can avail of the tax free 1270?

Thanks pals.

 

[auriusk]

It is possible that a refund may arise within the year, for example where a payment was made on a gain arising in the initial period’ and a loss arises in the ‘later period’.