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Losses (tax)

Claiming tax losses
If you operate a business that makes a loss, you can carry forward that loss and may be able to claim a deduction for it in a future year. The rules differ for different business structures. If you're a sole trader or a partner in a partnership, you may be able to claim business losses by offsetting them against other income - for example, income you earn from salary or wages.
If you make a tax loss in an income year you can generally carry it forward and deduct it in future years against income for tax purposes.