Sadly, from first hand experience, yes:
What we use as adjusted taxable income
Adjusted taxable income is what we use to work out your eligibility for some payments or services. It includes different types of income, for example:
- taxable income
- foreign income
- tax-exempt foreign income
- total net investment losses
- reportable fringe benefits
- reportable superannuation contributions
- certain tax free pensions or benefits, and
- superannuation income stream benefits, including both taxable and non-taxable components
It's a mechanism they use to discourage losses that would reduce one partner's income to zero for the purposes of avoiding paying child support. For everyday schmucks just trying to create wealth for the future after an expensive divorce settlement, it has the perverse affect of inflating your income when you have made a loss.
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Price($) | Vol. | No. |
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