Financial Performance 1 Income Capital Gains Net Credit Amount An entity's net capital gain credit for the reporting period is the total of the capital gains for the reporting period reduced by any capital losses for the reporting period. (If the capital losses for the reporting period exceed the capital gains, the difference is a net capital loss). Remaining capital gains are reduced, in any order, by any unapplied net capital losses from previous reporting periods. Any remaining discount capital gains, if applicable, are reduced by the discount percentage. (For further information on discount capital gains and the discount percentage see Division 115 of ITAA 1997) If the entity is carrying on a small business, apply the small business concessions to further reduce the capital gains (whether or not the gains are discount capital gains). (For the small business concessions see Division 152 of ITAA 1997). Add up any remaining capital gains that are not discount capital gains and any remaining discount capital gains. The total is the entity's net capital gain.