Losses | Essentials to strengthen your small business

Activity

If a company has had changes in its ownership or control of at least 50%, how does this affect its ability to claim carry forward tax losses?

It can only claim the losses in an income year if it satisfies the same business test, or the similar business test
It can only claim the loss in the income year it had it and any remaining amount is lost
It can only claim 75% of the loss

6 mins

10 mins

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

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%

2 mins

Trust loss	0%
Activity	0%

1 mins

Company loss	0%
Activity	0%

1 mins

Related courses	0%

Course feedback	0%