The increased GCT rate & claiming for a capital loss.

[Big_Tom]

Hi,
With the CGT rate been increased to 25%, does that mean if you have a capital loss that you are carrying forward, or, will have capital loss if you sell shares/assets at a loss now, that you can claim 25% of the loss against other capital gains? (If the GCT is still 25% when recognise your gains).

If so why on earth would the Government increase GCT tax when the ISEQ has crashed 70%+ & and the residential/commercial property markets in free fall.

 

[Slim]

Hi,
With the CGT rate been increased to 25%, does that mean if you have a capital loss that you are carrying forward, or, will have capital loss if you sell shares/assets at a loss now, that you can claim 25% of the loss against other capital gains?

I understood that all of the loss on qulaifying capital assets was offset against gains, then the balance taxed at 25%?