How do I claim a business loss against my personal income | ATO Community

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(Newbie)Newbie

23 July 2024

if you invest in a private company for half ownership (1 of 2 shares) and the company goes under due to deliberate mismanagement how can you claim that loss against your personal income? The company had no liquidator appointed and I was told by one of it's directors it the business was ceased as it was insolvent.

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(Taxicorn)Taxicorn

24 July 2024

Loss of the share would be a capital loss when the company is deregistered.

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(Taxicorn)Taxicorn

24 July 2024

Loss of the share would be a capital loss when the company is deregistered.

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(Newbie)Newbie

29 July 2024

So does this mean that it can only be offset against capital gains ie other shares and not wages or rental income.

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How do I claim a business loss against my personal income | ATO Community