diff --git a/src/anonymouslabels.cpp b/src/anonymouslabels.cpp
index 5ea7e56..9c422f9 100644
--- a/src/anonymouslabels.cpp
+++ b/src/anonymouslabels.cpp
@@ -29,7 +29,7 @@ AnonymousLabels AnonymousLabels::m_gInstance;
 
 
 // Update the forward references when a '+' label is seen
-void AnonymousLabels::UpdateForwardReferences(int pc)
+void AnonymousLabelsData::UpdateForwardReferences(int pc)
 {
 	for (std::vector<ScopedSymbolName>::iterator it = m_forwardReferences.begin(); it != m_forwardReferences.end(); ++it)
 	{
diff --git a/src/anonymouslabels.h b/src/anonymouslabels.h
index 00b71f1..9dc7518 100644
--- a/src/anonymouslabels.h
+++ b/src/anonymouslabels.h
@@ -28,11 +28,9 @@
 #include <vector>
 
 
-class AnonymousLabels
+class AnonymousLabelsData
 {
 public:
-	static inline AnonymousLabels& Instance() { return m_gInstance; }
-
 	// Get PC of last '-' label
 	int GetBackReference() { return m_backReference; }
 	// Set PC of '-' label
@@ -47,6 +45,45 @@ class AnonymousLabels
 private:
 	int m_backReference;
 	std::vector<ScopedSymbolName> m_forwardReferences;
+};
+
+
+class AnonymousLabels
+{
+public:
+	static inline AnonymousLabelsData& Instance() { return m_gInstance.Current(); }
+
+	AnonymousLabels() : m_level(0)
+	{
+	}
+
+	static void EnterMacro() { m_gInstance.Enter(); }
+	static void LeaveMacro() { m_gInstance.Leave(); }
+
+private:
+	void Enter()
+	{
+		m_level++;
+	}
+	void Leave()
+	{
+		if ( m_level < m_data.size() )
+		{
+			m_data[m_level].Clear();
+		}
+		m_level--;
+	}
+	AnonymousLabelsData& Current()
+	{
+		if ( m_level >= m_data.size() )
+		{
+			m_data.resize(m_level + 1);
+		}
+		return m_data[m_level];
+	}
+
+	unsigned int m_level;
+	std::vector<AnonymousLabelsData> m_data;
 
 	static AnonymousLabels m_gInstance;
 };
diff --git a/src/lineparser.cpp b/src/lineparser.cpp
index 169f2b6..4040376 100644
--- a/src/lineparser.cpp
+++ b/src/lineparser.cpp
@@ -29,6 +29,7 @@
 #include "symboltable.h"
 #include "globaldata.h"
 #include "sourcefile.h"
+#include "anonymouslabels.h"
 
 
 using namespace std;
@@ -124,17 +125,6 @@ void LineParser::Process( const string& line )
 
 		m_column = oldColumn;
 
-		// Check for an anonymous label declaration, + or -
-		// Must be followed by a newline or space.
-		if ( !bIsSymbolAssignment )
-		{
-			if (( m_line[ m_column ] == '+' || m_line[ m_column ] == '-' ) && (m_column + 1 == m_line.length() || m_line[ m_column + 1 ] == ' '))
-			{
-				HandleAnonymousLabel();
-				continue;
-			}
-		}
-
 		// first check tokens - they have priority over opcodes, so that they can have names
 		// like INCLUDE (which would otherwise be interpreted as INC LUDE)
 
@@ -159,6 +149,18 @@ void LineParser::Process( const string& line )
 			continue;
 		}
 
+		// Check for an anonymous label declaration, + or -
+		// Must be followed by a newline or space.
+
+		if ( !bIsSymbolAssignment )
+		{
+			if (( m_line[ m_column ] == '+' || m_line[ m_column ] == '-' ) && (m_column + 1 == m_line.length() || m_line[ m_column + 1 ] == ' '))
+			{
+				HandleAnonymousLabel();
+				continue;
+			}
+		}
+
 		// No token match - check against opcodes
 
 		if ( !bIsSymbolAssignment )
@@ -238,6 +240,7 @@ void LineParser::Process( const string& line )
 					cout << "Macro " << macroName << ":" << endl;
 				}
 
+				AnonymousLabels::EnterMacro();
 				HandleOpenBrace();
 
 				for ( int i = 0; i < macro->GetNumberOfParameters(); i++ )
@@ -291,6 +294,7 @@ void LineParser::Process( const string& line )
 				macroInstance.Process();
 
 				HandleCloseBrace();
+				AnonymousLabels::LeaveMacro();
 
 				if ( m_sourceCode->ShouldOutputAsm() )
 				{
diff --git a/test/4-assembler/anonmacro.6502 b/test/4-assembler/anonmacro.6502
new file mode 100644
index 0000000..35982af
--- /dev/null
+++ b/test/4-assembler/anonmacro.6502
@@ -0,0 +1,22 @@
+MACRO anon N
+LDY #N
+- JSR &FFEE
+DEY
+BNE -
+ENDMACRO
+
+ORG &2000
+.start
+LDX #0
+-
+LDA text,X
+BEQ +
+anon 2
+INX
+BNE -
++ RTS
+.text
+EQUS "Hello", 0
+.end
+
+SAVE "hello",start,end
diff --git a/test/4-assembler/anonmacro.gold.ssd b/test/4-assembler/anonmacro.gold.ssd
new file mode 100644
index 0000000..5c3c13a
Binary files /dev/null and b/test/4-assembler/anonmacro.gold.ssd differ