Thanks so much for your prompt response, really appreciate it! I am currently however in a similar predicament like you were during GFC, as you see I ended up with an actual profit for 2017, and instead of setting aside funds to pay it off, idiotically reinvested .. and thereby now sitting with the current loss specified.
I have spoken to the Tax office to go on a payment plan .. and was hoping that I can somehow show this loss to offset the the amount (around 245k) I owe. The payment plan says that I can offset any Tax credits towards this payment, which means I can say roughly only offset 38k and carry forward my 100k loss onto next year. Is there any other way to maximise my offsetting of this payment?
thanks ...
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