CGT Losses - can this be offset against SG Tax (of 15%)

Bonus question - say you run an SMSF with a 30/70 split of VAS & VGS.

As the SMSF has been created fairly recent, the VAS component now sits on a loss. Can I harvest this loss by selling VAS and purchasing same day A200?
>> I guess I am concerned on wash sale. But then again, they are not the same assets at all and one could argue that even the underlying components are different (ASX top 300 versus top 200).

 

Why would you want to? It could be a wash sale if the dominant purpose is generating a favourable tax outcome

 

Wash sale rules are a bit opaque - thanks for your comment.

 

The thread name and the question arent even similiar ?

All a wash sale will do is trigger a realised CGT loss. It will carry forward and likely produces no tax benefit in the absence of other CGT profits hence the wash sale issue may be no concern. But technically it is a wash sale, just perhaps without the Part IVA "tax benefit scheme" concern. CGT losses cant offset other fund income (such as distribution income from VAS / VGS) OTHER THAN the element of trust income that is a distributed CGT amount which may be small for those ETFs. These ETFs tend to have a larger franked or non-PP income element which wont help you. The details of the income breakdown and total amounts will only become known aftre July when the tax statemnet is issued aftre the 30 June distribution is also paid after June. CGT losses dont imact tax on contributions either - These are also part of the fund "income" subject to tax.