Income Tax Assessment Act 1997 2 2-5 25 25-90 An Australian entity can deduct an amount of loss or outgoing from its assessable income for an income year if: Income Tax Assessment Act 1997 3 3-10 230 230-15 3 You can also deduct a loss you make from a *financial arrangement Income Tax Assessment Act 1997 2 2-5 25 25-90 An Australian entity can deduct an amount of loss or outgoing from its assessable income for an income year if: Income Tax Assessment Act 1997 3 3-10 230 230-15 3 You can also deduct a loss you make from a *financial arrangement Div820 of ITAA 1997 Subdivision 820-JA of ITAA 1997 Subdivision 820-JA of ITAA 1997 Subdivision 768-A of the ITAA 1997