Claiming losses partnership

Question

 · Accepted Answer

Taxduck · Answer

Net income (loss) is spit evenly 3 ways and transferred to individual tax returns. Whether loss is deductible off other income depends on non-commercial loss rules. https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/losses/non-commercial-losses

Explore tax & super topicsExplore tax & super topics

About usAbout us