separate net income?

[Apocalypse]

I'm normally prett adept at trawling through Tax Pack and all its associated cronies but I've gotten to the Tax Offsets bit where they start talking about dependant spouses and "separate net income".

http://www.ato.gov.au/individuals/content.asp?doc=/content/19187.htm&page=4&H4

"SNI includes...business, trust and rental income "

However in the "What can reduce SNI" and "What doesn't reduce SNI" it doesn't mention losses incurred through rental property, although there are oblique references to interest incurred in earning income...

In the calculator here (select 2004/2005) it has a data field with this next to it:

"Business, trust and rental income – record a loss as a negative entry"

My conclusion is that it appears that rental property losses can reduce SNI, but as I can't find anything definitively saying either way...well, it's always risky assuming anything when it comes to tax matters.

Any educated opinions?

 

[Apocalypse]

I guess what I'm asking - for SNI purposes, do you include gross or net rental income?

 

[Mry]

I guess what I'm asking - for SNI purposes, do you include gross or net rental income?

Net. Rental income (after expenses and depreciation).

And that is from the 2005-2006 Taxpayer's Australia Tax Summary.

 

[Apocalypse]

Cheers Mry

Is that the same as here?

 

[Mry]

Yes, thats it.