Dear ATO community officer, our client is a sole trader and he has primary production loss under his ABN from his previous business. The client is running a non-primary production business now under same ABN. Could the carry forward primary production loss be used to offset the non-primary production business income?
Business activities would need to be of a similar kind. Under TR 2001/14 regarding non-commercial loss rules no mention is made between primary production and non-primary production businesses when discussing similar or distinct businesses. See paragraph 40 onwards.
Business activities would need to be of a similar kind. Under TR 2001/14 regarding non-commercial loss rules no mention is made between primary production and non-primary production businesses when discussing similar or distinct businesses. See paragraph 40 onwards.
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