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  • Investment 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

    If your only loss is from a passive investment (for example from a rental property) at Distribution from partnerships less foreign income, complete a Loss details worksheet and show:

    • Description of activity enter 'Residential property operators'
    • Type of loss select '0: Passive investment - partnership'
    • Primary production - your share of total loss enter '0'
    • Non-primary production - your share of total loss enter '0'.

    Continue to step 4.

    If you have a loss from a business activity and a loss from a passive investment (for example from a rental property) at Distribution from partnerships less foreign income, then you are not required to report the loss from a passive investment. You need to complete a Loss details worksheet for each other business activity loss.

    If you are unsure if a business activity has an overall loss see Work out whether you have an overall loss, or continue to step 2.

    Work out whether you have an overall loss

    Complete the worksheet for each business activity to determine whether you have an overall loss for that activity.

    Worksheet

    Row

    Calculation element

        $    

    a

    Income from the activity shown at other sections:

    • gross interest
    • dividends (unfranked, franked and franking credit amounts)
    • farm management repayments
    • net capital gain
    • other foreign source income 
     

     

    b

    Loss from the activity shown at:

    • primary production and non-primary production distribution from partnerships
    • net personal services income
    • net primary production and net non-primary production business income or losses

    (Include the loss here as a positive amount)

     

    c

    Partner deductions attributable to the activity (including landcare operations)

     

    d

    Loss from the activity at other foreign income
    (Include the loss here as a positive amount)

     

    e

    Add b, c and d.

     

    f

    Subtract e from a.

     

    If the result at f is negative this activity has an overall loss and you must complete a Loss details worksheet. Continue to step 2.

    If the result at f is zero or positive you do not have an overall loss for this business activity. If you have more than one business activity loss, complete a Loss details worksheet for each other activity. If you do not have a loss from another business activity show:

    • Description of activity enter the relevant description
    • Type of loss select 5: Commissioner's discretion
    • Reference select AN: NCL ruling code - Authorisation number for private ruling
    • Number enter '200926'.
    • Primary production - your share of total loss enter '0'
    • Non-primary production - your share of total loss enter '0'.

    Continue to step 4.

      Last modified: 28 Jun 2018QC 55392