Archive for June 1st, 2012

Individual tax and setting off tax losses

June 1, 2012  |  Individual  |  No Comments

A path through the Japanese "Southern Alps" - a range of mountains between Tokyo and Osaka.

The ability to offset tax losses against taxable income having a different source is often a key issue in tax planning.

Where such offset is not available a taxpayer may find themselves carrying forward a tax loss that they cannot use or losing the benefit of a tax loss altogether, hence paying tax on an amount of income greater than their overall economic gains. Read More