Hi digital,
Historical losses can be offset against future gains for up to 7 years. If a company has been losing money, the Future Income Tax Benefit (FITB) can be classed as an asset in some cases. For quite a few perth based mining companies, this is their primary asset.
This is not available for your personal tax unless you are classed as a trader for tax purposes.
Cheers
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Hi digital, Historical losses can be offset against future...
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