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It is important to read Item 16 - Deferred non-commercial business losses on the ATO website before completing this item.

Claiming a business loss

For information on claiming a business loss, refer to Guide to non-commercial losses on the ATO website. Deferred Non-commercial losses must be dissected into Primary Production and Non-Primary Production income.

If you are engaged in a hobby, then you are not carrying on a business activity. Income you receive from a hobby is not assessable for income tax purposes and you can't claim expenses as a tax deduction.

If you complete Item 16, you must complete Item P9.

Label F - Your share of deferred losses from partnership activities

Press Enter at label F to open the dissection widow:

Enter the relevant amounts and we'll complete the return labels when you close the dissection window. See Deferred Non-commercial Business Losses worksheet.

The total amount of PP and Non-PP losses amount defaults to the share of deferred losses from other partnership activities field. The two orange fields are ATO fields and must be dissected to show those losses related to:

the business of investing, and
rental business

Using the above example, on closing the window, the following amounts will have filtered through to:

label F - Total deferred losses of $9,750

label I - Primary production deferred losses of $6,500, and

label J - Non-primary production losses of $3,250.

The ATO will also receive the deferred losses for a partnership in the business of investing amount of $1,600 and the deferred losses from a partnership rental business of $3,500. The ATO uses these figures for cross matching purposes.

Whether losses have to be deferred depends on an Income test which is applied before the 4 tests. If Income Test income exceeds $250,000 the losses must be deferred.

Label G - Deferred Non-commercial business losses for sole traders

Press Enter at label G to key amounts into the dissection box at this label. Primary Production losses integrate to label I and Non-Primary Production losses to label J. The sum of the PP and Non-PP losses integrates to label G.

Press Enter at label G to enter the amounts that will be integrated to this label and to either or both labels I (Primary Production deferred losses) and label J (Non-Primary production losses). Refer to Deferred Non-commercial Business Losses worksheet.

Label I - Primary Production Deferred Losses

This is a non-editable field and is the total of the PP deferred losses entered in the worksheets behind either or both 16F and 16G.

Label J - Non-Primary Production Deferred Losses

This is a non-editable field and is the total of the PP deferred losses entered in the worksheets behind either or both 16F and 16G.

CCH References

16-020 Limit on losses from non-commercial business activities

Related topics

Supplementary Income