I have an online business and I also invest in various different on and offline projects.
The premise was that i invested my money and would receive a very small income from this every 3 monthsThe general rule is you can write off the CGT loss if if a gain on the same transaction would be chargeable for CGT.
How? If you're mugged on the street and your wallet is stolen, you can't claim the loss as a deduction on your tax return.So loss caused by a crime cannot be written off?
I find that hard to believe.
I doubt it. What asset was disposed of to cause the loss?Would it be a loss for CGT purposes against other capital gains?
i see what you mean. I was more thinking along the lines of pre-paid goods not received, or an investment being written down to zero.How? If you're mugged on the street and your wallet is stolen, you can't claim the loss as a deduction on your tax return.
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