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DV 24: Losses for QCs becoming sole traderships
or “Tax losses from qualifying companies can be used when becoming a sole trader”
You could also call this:

“Tax relief for protecting Australian investments against currency changes”

You can get money back for costs you have when you protect yourself against changes in the value of money between New Zealand and Australia. This applies when you own certain types of shares or investments in Australia. The rules for this are explained in another part of the law called section EM 6.

You can claim this money back even if it’s usually seen as a long-term cost. However, you still need to follow the main rules about what you can claim, and there are other limits that still apply.

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Next up: DV 26: Deduction for reinstatement of R&D tax losses

or “You can claim a deduction for reinstating research and development tax losses”
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Part D Deductions
Expenditure specific to certain entities

DV 25Hedging of currency movements in Australian non-attributing shares and attributing FDR method interests

  1. A person is allowed a deduction for the amount of expenditure that the person has under section EM 6 (Income and expenditure for fair dividend rate hedge portions).

  2. This section overrides the capital limitation. The general permission must still be satisfied and the other general limitations still apply.

Notes
  • Section DV 25: inserted, on , by section 35 of the Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters) Act 2013 (2013 No 52).