Carry forward of foreign losses by companies



This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

An overall foreign loss for a class of assessable foreign income may be carried forward indefinitely and used to reduce a future year's assessable foreign income for that class.

Losses incurred by a company before the 1990-91 income year can be carried forward only for seven years and are therefore no longer available.

Last modified: 05 Dec 2006QC 17522