... tax capital gains of individuals, and in instances of taxation, alternative design features. The exercise involved consideration of certain main findings in the public finance literature, including ... considerations). In the context of risk taking, the taxation of capital gains should not, in theory, create a disincentive (or incentive) to invest in risky assets. With full loss offset, capital gains ... current year capital losses may be offset against current year capital gains, or carried forward indefinitely to offset capital gains in future years, but not offset against other income of the taxpayer....