INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 36 - Tax losses of earlier income years  

SECTION 36-1   What this Division is about  


If you have more deductions for an income year than you have income, the difference is a tax loss .

Note:

You may be able to utilise the tax loss in that or a later income year.


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