Losses | Essentials to strengthen your small business

Course overview

If you have a tax loss, you need to understand how you may be able to claim it and the rules surrounding this. This course discusses the non-commercial loss rules that may apply to individuals or partners in a partnership, as well as tax loss rules for trusts and companies.

Tax loss

6 mins

What is a tax loss?	0%
Activity	0%
How to claim a tax loss?	0%
Activity	0%

Sole traders and partnership non-commercial losses

10 mins

Non-commercial loss rules overview	0%
How the non-commercial loss rules work	0%
Activity	0%

Non-commercial loss rules

26 mins

Step 1: Working out if the non-commercial loss rules may apply to a loss you made	0%
Case study: Working out if the non-commercial loss rules apply	0%
Step 2: Consider if you can group similar business activities	0%
Case study: Identifying similar business activities	0%
Step 3: Is my business an excepted activity?	0%
Case study: Working out if the business activity is excepted	0%
Step 4: Do you meet the income requirement?	0%
Case study: Working out if non-commercial loss rules apply	0%
Step 5: If you meet the income requirement – does the loss making activity pass one of the four tests?	0%
Assessable income test	0%
Profits test	0%
Real property test	0%
Other assets test	0%
What actions to take?	0%
Case study: Working out if the non-commercial loss rules apply	0%
Case study conclusion: Hailey’s non-commercial loss claim	0%
Step 6: Applying for the Commissioner’s discretion	0%
If you have deferred losses under the non-commercial loss rules	0%
Reducing for any net exempt income	0%
Activity	0%

Trust tax losses

2 mins

Trust loss	0%
Activity	0%

Company tax losses

1 mins

Company loss	0%
Activity	0%

Related courses

1 mins

Related courses	0%

Course Feedback

Course Feedback	0%