• The specified period

    If a product ruling has been issued for an agribusiness managed investment scheme (MIS) and discretion has been exercised to rule that the non-commercial loss rules will not apply to an individual participant of that MIS, the ruling will specify the income years the discretion applies to.

    Only for the income years specified in the product ruling is an individual participant in the MIS:

    • not required to defer any business losses from that MIS, and
    • allowed to offset any business losses from that MIS against their other assessable income, in the income year the loss is incurred.

    See also:

      Last modified: 24 Oct 2016QC 16137