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Key Insights: 1. Carried-forward revenue losses reduce taxable income and can be critical in keeping adjusted taxable income below the $250,000 threshold for non-commercial loss purposes. 2. Revenue losses carried forward from prior years are distinct from deferred non-commercial losses and are allowable deductions when calculating adjusted taxable income. 3. Misunderstanding how adjusted taxable income…
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Key Insights: 1. Carried-forward revenue losses reduce taxable income and can be critical in keeping adjusted taxable income below the $250,000 threshold for non-commercial loss purposes. 2. Revenue losses carried forward from prior years are distinct from deferred non-commercial losses and are allowable deductions when calculating adjusted taxable income. 3.
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With each passing year, it appears that the racing and breeding industries become increasingly political. Recently, representatives from TBNSW attended an interview with the Honourable Brad Hazzard, who has been charged with conducting a review of the Thoroughbred Racing Act (NSW) – the single most important piece of legislation applying
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TBNSW celebrated the Annual Awards at Randwick on Saturday 25th October, incorporating a fundraiser for National Thoroughbred Week. It was a great turnout on a magnificent day of racing for
The New South Wales stallion parades are underway with several farms opening their farm gates to show off their stallions to keen breeders and racing participants. Over the weekend, several
Greg and Jo Griffin’s picturesque Lime Country Thoroughbreds in Blandford is gearing up for another breeding season, with new life already gracing the lush paddocks of their fertile nursery. The
It’s a new season and a fresh slate for our young second crop sires whose oldest progeny have just turned three and while there is a long way to go,
