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  • Investment losses

    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 a loss for the business activity, or continue to step 2.

    Work out whether you have a loss for the business activity

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

    Worksheet 1a - Working out whether you have a loss

    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 this activity does not have a 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: 26 Jun 2019QC 59126