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3.
Carry forward of trading losses
(a)
A trading loss may be carried forward and set against the first trading profits arising from the
same trade.
(b)
The trading loss must be set o
ff
in full against the next available trading profit if this option is
chosen.
(c)
Any loss remaining is carried forward until further profits arise.
(d)
The loss may be carried forward indefinitely.
Example 1
Albert has had the following recent trading results as adjusted for tax:
Assume that Albert chose to carry forward the loss.
Calculate his assessable amounts for all relevant tax years.
Dostları ilə paylaş: