Things you need to know
Net property loss is the amount of net loss from any rental property you own.
Don’t include at this question capital gains or capital losses from your rental properties.
Did you earn rental income, claim rental deductions, or receive a partnership distribution that includes rental income or losses?
- No – Write 0 (zero) at question IT6 – label Y, then go to question IT7 Child support you paid 2025.
- Yes – Read on.
What you need to answer this question
We'll calculate the amount of your net rental property loss for you using the information you provide in your tax return.
Completing your tax return
To complete this question, follow the steps.
Step 1
Complete worksheet 1 to work out your net rental property loss.
You must show any loss amounts in worksheet 1 as negative amounts (including any totals).
At row c write your share of net rental property income or loss from the partnership tax return statement of distribution.
At row d write the net income or loss from carrying on a rental property business which you use in working out the amount at P8 – label Z of the Business and professional items schedule 2025.
If this applies to you, then you should lodge your tax return using myTax or a registered tax agent. If you're unable to use myTax or a registered tax agent, contact us to request a paper tax return that includes the Business and professional items schedule 2025.
At row f write the total of the low-value pool deductions relating to your rental properties from question D6.
|
Row |
Calculation |
Amount |
|---|---|---|
|
a |
Net foreign rent (from question 20 – label R) |
$ |
|
b |
Net rent (from question 21) |
$ |
|
c |
Share of net rental property income or loss |
$ |
|
d |
Net income or loss from rental property business |
$ |
|
e |
Add rows a, b, c and d. |
$ |
|
f |
Total of the low-value pool deductions |
$ |
|
g |
Any other deductions attributable to a rental property, including debt deductions at question D15 – label J |
$ |
|
h |
Add rows f and g. |
$ |
|
i |
Subtract row h from row e. |
$ |
Step 2
If the amount at worksheet 1 – row i is negative (that is, a loss), write that amount at question IT6 – label Y. Otherwise write 0 (zero) at label Y.
Where to go next
- Go to question IT7 Child support you paid 2025.
- Return to main menu Individual tax return instructions 2025.
- Go back to question IT5 Net financial investment loss 2025.