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So what's the $38k? I can see it being $38k over if you're earning $38k in gross rent before deductions. Rent is still income, its just not PAYE income. This one gets people a lot. She's 'earning' a loss. Go figure. You might think her income is $-10k, the FT people say she's earning $10k. One...

Its more of a problem when your *only* income is a loss, like you and the wife own half a house each that makes a loss of say $50k, and she is a stay at home mum with no other income. She's then assessed as earning $25k and since they cut down your FTA/B down when the lower earner makes more...