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Tax Question

Discussion in 'General Investing Discussion' started by sydney, 9th Jul, 2011.

  1. sydney

    sydney New Member

    Joined:
    9th Jul, 2011
    Posts:
    2
    Location:
    Sydney, NSW
    Can someone please advise me on a tax query I have.

    I recently lost a large sum of money in an investment. I was wondering if I can sell my tax loss to a third party??
     
  2. Terryw

    Terryw Well-Known Member

    Joined:
    9th Jun, 2006
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    Location:
    Sydney
    Nope - not directly anyway. Well, you could actually sell it if you could find a buyer, but that buyer couldn't gain any tax advantage.

    What you could do is to look for someone with a trust with a capital gain. If you were a beneficiary of their trust then they could distribute some CG to you which you could use your loss to offset. There are some strict rules regarding the losses, designed to prevent their transfer so you should seek advice.
     
  3. Billv

    Billv Getting there

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    15th Jul, 2007
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    1,796
    Location:
    Sydney, NSW
    Nope can't think of how you could.
    Make a large CG to offset it.
    Sell one of your profit making properties or a parcel of shares for example

    Depending on the asset, it could be a good time to sell anyway, peak of the market etc
     
  4. sydney

    sydney New Member

    Joined:
    9th Jul, 2011
    Posts:
    2
    Location:
    Sydney, NSW
    Cheers Terry, appreciate your response....

    Kind regards,

    Julian.