UT & Niceone You know, technically, operating Neg geared housing is not a business, according to itaa, However, operating in business, the pursuit of buying, selling (& renting) houses or any property is a business...
So a fine line is drawn in some cases...
On losses, no restriction on non business
On losses, business is within the non commercial loss rules, (20k turnover paFyr) to permit the following;- - no loss if under the 20k - quarantine the loss to following years (whedn t/o over 20k) there are other ways to get the loss, but, essentially this stppoed the practice of a home based tax loss (which beacme a litle industry in itself) for a while
So bottome line, for non business ...no time limits on losses
