Document ID: chunk:federal_register_of_legislation:C2023C00380:clause:2_36
Version: federal_register_of_legislation:C2023C00380
Segment Type: clause
Provision Reference: sch 2 cl 36
Character Range: 171364–171837

36  Subpoint 1067G‑F11(4)
Repeal the subpoint, substitute:
 1067G‑F11(4)  A person's net passive business loss for a tax year is the difference between:
 (a) the total amount of the person's loss or outgoings for that year that are or will be deductible under the Income Tax Assessment Act because they were necessarily incurred in relation to a passive business; and
 (b) the gross income from the business for that year.
Note: For passive business see point 1067G‑F19A.