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Old Oct 15th 2017, 9:49 am   #1
now just Shaun...
 
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Default Tax Question - Deferred Non Commercial Business Loss

I work and earn a salary. On the side I run a wedding hire vehicle business. The income last year was low (under $5k) and I resulted in a $20k loss at the end of the year.

As I do not satisfy the business test I have to defer the losses until I make a profit, which is unlikely.

Any ideas how I can offset these losses against my main income rather than keep deferring each year...?

Thanks
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