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End of attention
The Losses schedule 2013, 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 2013 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 2013 if:
- the total of the fund’s tax losses and net capital losses carried forward to the 2013–14 income year is greater than $100,000
- the fund has a foreign loss component of tax losses deducted in the 2012–13 income year or carried forward to later income years
- the fund has an interest in a CFC that has current year 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 2013, you may also need to complete a CGT schedule.
Last modified: 02 Jun 2014QC 35420