Net rental property loss
A net rental property loss is a loss incurred on any rental property that you own that you declare on your personal income tax return for the financial year.
For family assistance purposes, net rental property losses are added into your adjusted taxable income.
Example
If you had a loss of $6,000, which has been deducted from your taxable income for tax purposes, you will need to add this back into your taxable income for family assistance purposes.
If you had a loss of $6,000, which has been deducted from your taxable income for tax purposes, you will need to add this back into your taxable income for family assistance purposes.
You can contact us if you would like help working out what your net rental property losses are.
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