‑1 What this Division is about
This Division prevents losses of individuals from non‑commercial business activities being offset against other assessable income in the year the loss is incurred. The loss is deferred. It sets out an income requirement and a series of tests to determine whether a business activity is treated as being non‑commercial. The deferred losses may be offset in later years against profits from the activity. They may also be offset against other income if the income requirement and one of the other tests are satisfied, or if the Commissioner exercises a discretion. Table of sections Operative provisions 35‑5 Object 35‑10 Deferral of deductions from non‑commercial business activities 35‑15 Modification if you have exempt income 35‑20 Modification if you become bankrupt 35‑25 Application of Division to certain partnerships 35‑30 Assessable income test 35‑35 Profits test 35‑40 Real property test 35‑45 Other assets test 35‑50 Apportionment 35‑55 Commissioner’s discretion
Sourced from the Federal Register of Legislation at 25 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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