If Xero was Wayno (your side hussle) and made a loss that could be offset against your other income.
The fact Xero is its own separate entity means it has no income from other sources to offset.
This is no different to property ownership today. I bought most of my properties in NZ while living and working overseas - I didn’t have any income in NZ to offset losses against so I carried them forward and now I’m in profit and in NZ I can offset them.
The fact Xero is its own separate entity means it has no income from other sources to offset.
This is no different to property ownership today. I bought most of my properties in NZ while living and working overseas - I didn’t have any income in NZ to offset losses against so I carried them forward and now I’m in profit and in NZ I can offset them.
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