Revenue losses
Statement Purpose
This statement provides a record of the accumulation of revenue losses, and their subsequent utilisation.
Data Flow
Carried forward losses from earlier years should be input to the
Losses brought forward
column, and adjusted in the Adjustment
column, as required.Revenue losses from this schedule will be automatically utilised in the
Prior period losses recouped
column in the Tax reconciliation
statement on a first-in first-out
basis to offset domestic income, net foreign sourced income and net capital gains, as required.Any current year revenue losses from the
Current period losses
as per the Tax reconciliation
statement will be automatically transferred to the Losses incurred
column of this statement.Explanation of Fields
Any losses no longer available due to the impact of the trust loss should be input to the
Losses denied
columns.Signage
- Losses brought forward and any adjustments to increase the amount of losses are positive amounts.
- Adjustments to reduce the balance of losses are negative amounts.