|
|
此文章由 休 原创或转贴，不代表本站立场和观点，版权归 oursteps.com.au 和作者 休 所有！转贴必须注明作者、出处和本声明，并保持内容完整
When can you deduct a loss?
You can deduct a loss from a business activity against other income if the activity passes at least one of the following four tests. It may:
have assessable income from the activity of at least $20,000
have produced a profit in three out of the past five years
use real property or an interest in real property worth at least $500,000 on a continuing basis, or
use other assets worth at least $100,000 on a continuing basis.
If an activity does not pass any of these tests, you may still be able to deduct your loss if the Commissioner exercises his discretion to allow the loss to be applied against other income.
When can the Commissioner exercise the discretion?
The Commissioner can only exercise the discretion in the following two situations:
your business activity would have passed one of the four tests except for special circumstances outside of your control, or
you have just started your business activity and, because of the nature of the business, there is a lead time before your business activity passes one of the tests or a profit can be expected.
What is the assessable income test?
A business activity which has operated for the whole income year will satisfy the test if it generated assessable income of at least $20,000 [paragraph 35-30(a)].
If a business activity operated for only part of an income year it will satisfy the test in that year if, based on a reasonable estimate, the assessable income over a full income year is $20,000 or more [paragraph 35-30(b)].
How do you make a reasonable estimate?
Example
If you reasonably expect that your income for the time that you've been operating will reflect your income throughout the year, then you can use a simple pro rata to estimate your full year's income.
Assessable income for 90 days = $5,400
Average daily assessable income: $5,400/90 days = $60/day
Estimated annual assessable income: $60 x 365 days = $21,900
In this example, you would satisfy the income test and you would be able to offset any loss against other income in that year.
What if my estimate is wrong?
If your assessment is reviewed, and your estimate is shown to have been unreasonable, your income tax liability may be reassessed by the Commissioner. Penalties may also be imposed, but only where the basis of preparing the estimate shows some culpable behaviour, eg it was prepared with 'lack of reasonable care'.
[paragraphs 170(2)(a) & (b) of the ITAA 1936]
If you realise that your estimate is wrong and you have been disadvantaged, you can request a reassessment of the relevant income tax assessment within four years of the date that the original assessment became due and payable. |
|
扁豆往事之工作篇（１） (2008-12-9) UEJ 
发表于 2005-5-30 09:39
发表于 2005-5-30 09:42
