Have searched through a few old threads but can't find my answer clearly enough.
- Sell house held for > 12 months realising a $20k capital gain that can be discounted 50%.
- Carry forward a $10k capital loss from a previous financial year.
What is the correct method for calculating the capital gain due?
Is it: (($20k - $10k)/2) so should be $5k capital gain?
Or: (($20k/2) - $10k) so no capital gain due?
The ATO site seems to indicate that the first method is correct but there was a previous topic on this forum that indicates the second method is possible.
Thanks in advance,
Gools
- Sell house held for > 12 months realising a $20k capital gain that can be discounted 50%.
- Carry forward a $10k capital loss from a previous financial year.
What is the correct method for calculating the capital gain due?
Is it: (($20k - $10k)/2) so should be $5k capital gain?
Or: (($20k/2) - $10k) so no capital gain due?
The ATO site seems to indicate that the first method is correct but there was a previous topic on this forum that indicates the second method is possible.
Thanks in advance,
Gools