Hmmm… yeah, but you could have made it in other ways, which might or might not be possible to offset, e.g.:
Employment income
Having some money after moving from another country
Gifts, inheritance etc.
I previously assumed that you can only offset capital losses against past capital gains.
BTW if you allow offsetting against any kind of income then you get another issue – all of the people who are really bad at investing consistently decrease their tax bills by their capital gains losses. Not sure how big a deal is that. Or perhaps that’s a feature?
Hmmm… yeah, but you could have made it in other ways, which might or might not be possible to offset, e.g.:
Employment income
Having some money after moving from another country
Gifts, inheritance etc.
I previously assumed that you can only offset capital losses against past capital gains.
BTW if you allow offsetting against any kind of income then you get another issue – all of the people who are really bad at investing consistently decrease their tax bills by their capital gains losses. Not sure how big a deal is that. Or perhaps that’s a feature?