A Matter of Trusts

Taxation in Australia Journal

The rules for testing whether a trust can utilise a prior year tax loss are complex. Unlike companies which only have two primary tests, the trust loss rules involve a combination of various tests. Each combination differs depending on the type of trust being tested. This article provides a guide to the application of the trust loss rules and introduces the recently legislated similar business test for trusts. Set out below is a guide to navigating the trust loss provisions.

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