Use the Losses schedule 2016, to show detailed information on losses when required to do so. Transfer totals of the amounts at part A of the Losses schedule 2016 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 2016 if:
- the total of the fund’s tax losses and net capital losses carried forward to the 2016–17 income year is greater than $100,000,
- the fund has an interest in a CFC that has current year CFC losses greater than $100,000, or
- 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 you need to complete a Losses schedule 2016, you may also need to complete a CGT schedule.
For more information, see:
Last modified: 15 Jul 2016QC 48112
- Losses schedule instructions 2016
- Guide to capital gains tax 2016.