Deduction for Carryover of Casualty Loss Article 71 The Casualty Loss that a Resident filing a Tax Return has incurred in any of the three years prior to the relevant year (other than an amount deducted in or before the previous year pursuant to the provisions of this paragraph or paragraph (1) of the following Article) is applied as a deduction pursuant to Cabinet Order when the amount of gross income, retirement income, or timber income for the year of the return is calculated.
The provisions of the preceding paragraph apply only if the Resident referred to in that paragraph files a Tax Return giving the particulars of the Casualty Loss for income taxes in the year in which the Casualty Loss arises, by the deadline for filing that return (or after the deadline for filing the return, if the district tax office director finds there to be compelling circumstances for allowing this) and if the Resident continues to file a Tax Return thereafter.
第一項の規定による控除は、雑損失の繰越控除という。
A deduction under paragraph (1) is referred to as a deduction for carryover of casualty loss.
