Your SMSF’s assessable income includes net capital gains unless the asset is a segregated current pension asset. Complying SMSFs are eligible for a capital gains tax (CGT) discount of one-third if the asset had been owned for at least 12 months.

Capital losses such as losses from selling commercial premises, can’t be claimed as a deduction, and can only be offset against capital gains. If capital losses are greater than capital gains in a financial year, they must be carried forward to be offset against future capital gains.