• IT6 Net rental property loss 2015

    This question is about the net loss, if any, from any rental property you owned.

    This question is not about capital gains or capital losses from your rental properties.

    Did you earn rental income, claim rental deductions or receive a partnership distribution that included rental income or losses?

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    No

    Write 0 at Y item IT6, then

     

    Yes

    Read on.

    Answering this question

    We will calculate the amount of your net rental property loss for you using the information you provide in your tax return.

    Completing your tax return

    Step 1

    Complete worksheet 1 to work out your net rental property loss.

    Any loss amounts in worksheet 1 must be shown as negative amounts (including any totals).

    At (c) write your share of net rental property income or loss from
    the partnership tax return statement of distribution.

    At (d) write the net income or loss from carrying on a rental property business which you take into account in working out the amount at Z item P8 of the Business and professional items schedule for individuals 2015.

    At (f) write the total of the low-value pool deductions relating to your rental properties that you included at item D6.

    Worksheet 1

    Net rental property loss

    Net foreign rent (from R item 20)

    $     

    (a)

    Net rent (from item 21)

    $     

    (b)

    Share of net rental property income or loss

    $     

    (c)

    Net income or loss from rental property business

    $     

    (d)

    Add (a), (b), (c) and (d).

    $     

    (e)

    Total of the low-value pool deductions

    $     

    (f)

    Take away (f) from (e).

    $     

    (g)

    Step 2

    If the amount at (g) in worksheet 1 is negative, (that is, a loss), write that amount at Y item IT6. Otherwise write 0 at Y.

    Where to go next

      Last modified: 29 May 2015QC 44230