Non-commercial Losses

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, John Jeffreys, Tax Counsel of Tax & Super Australia and Director of Tax 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, written by John Jeffreys.

More information:

   Friday 17 September             John Jeffreys    Slides  
   12:30-1:30pm AEST      Recorded webinar    Recording 
   1 CPD point      $99 (members) | $132 (standard)        Notes


Presented by: John Jeffreys


As Tax Counsel of Tax and Super Australia, John regularly advises members in dealing with Australia's tax and superannuation laws. John also does public speaking on tax topics, presents many webinars and the video series "Quick Tax", prepares submissions on tax issues, and discusses tax matters with members of the ATO and Treasury. He has been in the tax sector for over 35 years, including being a tax partner in two of the large accounting firms and running his own tax consultancy for over 10 years.

17/09/2021 12:30 PM - 17/09/2021 1:30 PM
Online, Australia

Login with your email address