Exposure Draft - Non-Commercial Losses

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Exposure draft legislation to implement changes announced in the 2009-10 Budget to tighten the non commercial losses rules for individuals with an adjusted taxable income in excess of $250,000 has been released. Further information about these changes is in the Treasurer’s Media Release No 067 of 12 May 2009.

Interested parties are invited to comment on the exposure draft legislation. While submissions may be lodged electronically, by post or by facsimile, electronic lodgment is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence.  Automatically generated confidentiality statements in emails do not suffice for this purpose.  Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.  A request made under the Freedom of Information Act 1982 (Commonwealth) for a submission marked 'confidential' to be made available will be determined in accordance with that Act.

Closing date for submissions: Monday, 26 July 2009

Address written submissions to:
The Manager
Philanthropy and Exemptions Unit
Personal and Retirement Income Division
The Treasury
Langton Crescent
PARKES  ACT  2600

Fax: (02) 6263 3044

Email:  non-commerciallosses@treasury.gov.au

For enquiries, please call Chris Leggett on (02) 6263 3208.

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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