Mr. Michael started his dog breeding business in 2017 and has been making trading losses ever since. Michael was unable to provide SARS (South Africa Revenue Service) with information that his business has a reasonable prospect of deriving taxable income within a reasonable period of time.

Aside from his dog breeding business, Michael is also a manager at Twins Pet shop, where he purchases his accessories and food for his dog at a discounted rate.

Mr Michael provided you with the following tax information for this 2020 to 2023 tax year of assessments:

Tax Year	salary income	Trade income / (loss)
2019	R1 500 000	(R40 000)
2020	R1 530 000	(R80 000)
2021	R1 567 000	(R65 000)
2022	R1 630 000	(R95 000)

Required:

Discuss in detail how the 2022 trading loss will be dealt with in Mr Michael income tax return. (20 marks)