Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The object of this Division is to improve the integrity of the taxation system by:
(a) preventing losses from non - commercial activities that are carried on as * businesses by individuals (alone or in partnership) being offset against other assessable income; and
(b) preventing pre - business capital expenditure and post - business capital expenditure by individuals (alone or in partnership) in relation to non - commercial activities being deductible under section 40 - 880 (business related costs);
unless certain exceptions apply.
(2) This Division is not intended to apply to activities that do not constitute carrying on a * business (for example, the receipt of income from passive investments).