The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

1.1.T.105 Total net investment loss (YA)

Definition

For the purposes of YA, a total net investment loss has the same meaning as in the Income Tax Assessment Act 1997. It is the sum of the total net investment losses of each parent of the claimant/recipient in the appropriate tax year.

The value of such total net investment loss is added to the combined parental income for the purposes of the YA parental income test (1.1.P.40).

Note: For the purposes of YA, taxable income must be a positive figure or $0. It cannot be a negative figure.

Act reference: SSAct section 1067G-F1 Parental income test result, section 1067G-F10 Combined parental income

Income Tax Assessment Act 1997 section 4-15 How to work out your taxable income

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