Tax Loss


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Related to Tax Loss: tax loss carryforward

Tax Loss

A loss of value that results in a tax deduction. A tax loss may be a business loss or it may be the loss of a personal asset such as a house. For example, the amount one spends repairing a car after a wreck may be a tax loss.

In order to qualify as deductible, the loss must not be covered by insurance and (for the loss of an asset) must be the result of a real disaster such as theft. Gradual damage generally does not qualify.
References in periodicals archive ?
Alongside its study on the implementation of a two-tier tax system, the Government could consider the feasibility of introducing a group tax loss relief regime, which could drive more business activities in the Hong Kong financial services industry, in particular the banking sector.
The report describes the need for group tax loss relief in Hong Kong and sets out the various forms that the relief could take.
The defendant also appealed his sentence, arguing that the district court had improperly calculated the amount of tax loss resulting from the fraudulent returns.
To be globally competitive, Canada should implement a formal Loss-Transfer System--or otherwise provide for group tax loss relief.
They generally don't have a tax loss because the depreciated value of their contents is less than their insurance proceeds.
Of 30 OECD member countries, Canada is 1 of only 9 countries that does not provide group tax loss relief directly through its legislation.
Of thirty OECD countries surveyed in 2001, Canada was one of only four countries that did not provide group tax loss relief directly through its legislation.
Such forward looking statements include those regarding the expectations of the Company about the future use of tax loss carryforwards and the effect of the transfer restrictions imposed on the common stock of the Company.
Our tax loss carryforwards are a valuable asset to Aether and its stockholders and an important component of our business strategy," said David S.
Sweden's administrative court of appeal has ruled against the investment company Investment AB Kinnevik in a tax dispute relating to the size of the tax loss carry-forwards in the associated company SCD Invest AB.
The flipping of the calendar year brings tax loss selling, "Santa Claus" rallies, and the "January Effect.