Big losses on investments and how best to use this

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Gonzo replied

24 April 2009, 22:23
Originally posted by TazMaN View Post

If theoretically you made a large loss on investments (say stock market), is it possible to offset this against income tax in any way?

I know you can carry forward investment losses to offset investment profits in following years, but it would be more interesting if you could offset against income/earnings.

No, capital gains or losses are taxed completely separately from income unfortunately, or fortunately depending on your point of view.

Some countries have wealth taxes so you could be taxed on any gains in the value of your investments even if you haven't sold them.
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prozak replied

24 April 2009, 15:51
Originally posted by TazMaN View Post

If theoretically you made a large loss on investments (say stock market), is it possible to offset this against income tax in any way?

I know you can carry forward investment losses to offset investment profits in following years, but it would be more interesting if you could offset against income/earnings.

Not 100% sure. But I believe you can only offset your capital losses against your capital gains.
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Hex replied

24 April 2009, 11:36
Originally posted by TazMaN View Post

If theoretically you made a large loss on investments (say stock market), is it possible to offset this against income tax in any way?

I know you can carry forward investment losses to offset investment profits in following years, but it would be more interesting if you could offset against income/earnings.

No - I don't believe there is.
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ChimpMaster started a topic Big losses on investments and how best to use this

24 April 2009, 09:57
Big losses on investments and how best to use this

If theoretically you made a large loss on investments (say stock market), is it possible to offset this against income tax in any way?

I know you can carry forward investment losses to offset investment profits in following years, but it would be more interesting if you could offset against income/earnings.
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