ion Movearound Pty Ltd had losses in Year 1. It therefore changed its business in Year 2 from being a removalist to building renovations. Shares were issued to new shareholders in Years 2 and 3 to fund the new business as follows: Shareholder Shares Shares Shares Year 1 Year 2 Year 3 Pushin Shove Groan 23 12 1 1 Mozzy 234 State which of the following statement is correct? Losses from Year 1 can be offset against profits in Years 2 and 3 Losses from cannot be offset against profits in Years 2 or 0 Losses from Year 1 ca against pronts in Shamiy