Miscellaneous 2009

Non-commercial losses

Source: South Australia

Published Date: 21 Aug 2009

 

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With the Government's announcement in the Budget and subsequent issue of exposure draft legislation, non-commercial losses are firmly back on the agenda and the push to tighten the existing rules has begun.

With this renewed focus on non-commercial losses, it is a perfect opportunity to recap the current rules, tricks and traps and also understand the effect of the proposed changes and identify strategies to assist clients who may be caught by them. This paper covers:

  • an overview of the non-commercial losses rules
  • the current test criteria
  • the exceptions to the rules
  • the Commissioner's discretion in relation to the current rules
  • the changes outlined in the exposure draft
  • the effect of the current rules and proposed changes on privately held business.

Individual Session

Non-commercial losses

Author(s): Adam Fisher CTA
Materials from this session:

Details

  • Published By: Adam Fisher CTA
  • Published On:21 Aug 2009
  • Took place at:Stamford Grand, Adelaide

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Miscellaneous 2009

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