13 September 2021
Generally, you make a tax loss when your business expenses are more than your income. Or more specifically, when your total deductions are more than your total assessable and net exempt income for an income year.
If you make a tax loss, you may be able to:
Before you claim a tax loss, check that you’ve correctly:
Remember, registered tax and registered BAS agents can help you with your tax.
Find out about:
Related news items
If your business is a corporate tax entity, consider claiming loss carry back.
Tips on income to include and expenses to claim, plus check out our new toolkit.
Support is available to help you with lodging and paying your tax and super.