Hi...
Could a worker earning below the $18,200 threshold, claim net IP loss of ~15k from interest, maintenance, depreciation etc?
If so, is it correct that they would not receive any tax refund, as no tax was paid, but could offset accumulated losses against a taxable income any number of years into the future?
Say they currently earned $10k from a part-time job, would their income as far as Centrelink is concerned be $15k, even though they had not had any of that back as a refund?
Cheers,
Could a worker earning below the $18,200 threshold, claim net IP loss of ~15k from interest, maintenance, depreciation etc?
If so, is it correct that they would not receive any tax refund, as no tax was paid, but could offset accumulated losses against a taxable income any number of years into the future?
Say they currently earned $10k from a part-time job, would their income as far as Centrelink is concerned be $15k, even though they had not had any of that back as a refund?
Cheers,