• Losses schedule

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

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    The Losses schedule 2011, and where relevant the CGT schedule, have replaced most of the labels relating to losses in previous tax returns. Transfer totals of the amounts at part A of the Losses schedule 2011 to U Tax losses carried forward to later income years item 13 and V Net capital losses carried forward to later income years item 13 of the tax return.

    Complete and attach a Losses schedule 2011 if:

    • the total of the fund's tax losses and net capital losses carried forward to the 2011-12 income year is greater than $100,000
    • the fund has a foreign loss component of tax losses deducted in the 2010-11 income year or carried forward to later income years
    • the fund has an interest in a CFC that has 2010-11 CFC losses greater than $100,000.
    • the fund has an interest in a CFC that has deducted or carried forward a loss to later income years greater than $100,000.

    If, under the above criteria, you need to complete a Losses schedule 2011, you may also need to complete a CGT schedule.

    Further Information

    For more information, see the

    • Losses schedule instructions 2011
    • Guide to capital gains tax 2011.
    End of further information
    Last modified: 11 Jan 2012QC 28016