Deferred tax assets arise as a result of tax losses.In Australia losses incurred in previous years can always be carried forward to offset taxable income derived in future years.

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In Australia, losses can be carried forward to offset future taxable income, but this is subject to certain conditions such as the continuity of ownership test or the same business test, meaning it's not always possible to carry forward losses indefinitely or under all circumstances.

Deferred Tax Assets Arise as a Result of Tax Losses