Completing non-commercial losses labels in the 2003 Individual tax return

Two partnerships - one has a loss and the other has a profit, resulting in an overall profit

Alysia is a member of two partnerships. One is a graphic design business and the other is a direct selling business activity. These activities commenced in the year ended 30 June 2003.

Sections within Two partnerships - one has a loss and the other has a profit, resulting in an overall profit

Last Modified: Thursday, 3 July 2003

Table of contents

Introduction

Sole trader commences business activity in 2003

Partnership commences business activity in 2003

Sole trader with a deferred loss from a prior year

Partnership where current year loss to be deferred, and deferred loss from 2002

Two activities - a partnership with a deferred loss and a sole trader with a deferred loss (passes a test)

Two activities - a rental property partnership loss (passive investment) and a sole trader with the Commissioner's discretion

Two partnerships - one has a loss and the other has a profit, resulting in an overall profit

Partnership one

Partnership two

Tax return completion

Partnership with deferred prior year losses from two activities which are not similar - one activity is not carried on in the current year

Partnership with a deferred prior year loss and personal business expenses outside the partnership

Primary producer who falls within the exception

Footnotes

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