29 Jun 09 Exposure Draft: Non-Commercial Losses released
On 26 June 2009, Treasury released exposure draft legislation and draft explanatory memorandum to implement changes announced in the 2009-10 Budget to tighten the non commercial losses rules for individuals with an adjusted taxable income in excess of $250,000. Further information about these changes was contained in the Treasurer’s Media Release No 2009/067 of 12 May 2009.
Closing date for submissions is Monday, 26 July 2009.
To access the draft documents, go here