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Trade losses in 2011-12 to be carried back and set off against 2010-11

Trade losses in 2011-12 to be carried back and...

In 2010-11 there was a large Capital Gain with CGT payable The client now wishes to clain 2011-12 losses agiainst 2010-11 tax assessments that included capital gains is this possible?

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By rajram
10th Jan 2013 22:36

SA tax return

I would appreciate early response for end of Jan deadline to this issue

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11th Jan 2013 07:54

Yes, but all the 2010/11 income must be relieved first.  (Sec 261B).

 

 

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