A New Tax System (Goods and Services Tax) Act 1999
Note:Division 126 - Gambling 126-15 Losses carried forward
If, for any tax period, your total monetary prizes referred to in subsection 126-10(1) exceed your total amounts wagered referred to in that subsection, the amount of that excess is to be added to your total monetary prizes, referred to in that subsection, for the next tax period.
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