If you are a member of a partnership and all the other partners are individuals, the assessable income of the whole partnership must be at least $20,000 before the individual members can deduct losses.
If a partnership carries on more than one business activity, the income and deductions must be accounted for separately for each unless they are similar activities. More information can be found in Taxation Ruling TR 2003/3.
If you have partnership members that are companies or trusts, you must exclude their share of the assessable income.
You must also ignore any income that other partners earn outside the partnership.
You can count income that you earn from the same or similar business activity but which is not partnership income. For example, if you are a partner in a farming partnership and you receive income from the sale of produce in your own right, you can count this income, even though it is not partnership income.