If you own things and sell them for a capital loss you get a tax credit to use later.

If you sell for a capital gain within 12 months then you will pay tax on the full amount of profit from the sale. For individuals this is just added to your income tax.

If you sell for a capital gain having held the asset for over 12 months you get a 50% discount to how much profit is taxed.

The tax credit for a capital loss can be used to offset a capital gain but it gets applied before any discount is applied.

I am not an accountant but I have listened to one.