Non-commercial Losses


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For those commencing or running business activities while they have other income, the non-commercial loss provisions continue to be a source of confusion and difficulty.  It is often the case that a business activity will incur losses during the initial phase of its set up and growth, but the non-commercial loss rules stand in the way of individuals being able to obtain an immediate tax deduction for these losses.

In this webinar Tax & Super Australia will carefully dissect the non-commercial loss provisions using examples, diagrams and clear explanations.  Among other things he will cover:

  • The policy and objectives of the non-commercial loss rules.
  • The taxpayers trapped in these rules.
  • The four objective tests – what they are and when they apply.
  • How the provisions operate and their ongoing effect.
  • Some surprising facts about these provisions.
  • The assets excluded from the objective tests.
  • Special “carve-outs” from the provisions.
  • Issues related to the $250,000 adjusted taxable income limit.
  • A detailed discussion on seeking the exercise of the Commissioner’s discretion not to apply the non-commercial loss rules – what you should do and what you definitely should not do!  The presentation will cover the ATO’s ruling on this discretion and outline how important it is to the scheme of these provisions.

Participants will be provided with the presentation slides and a detailed paper covering the provisions.

Recorded on Friday, 17 September 2021

1 CPD hour

Presented by:TSA