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I understand it completely, I'm saying it's wrong.Individual tax...

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Tarvold

18,021 Posts.

1195

18/01/20

17:27

Post #: 42451971
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Originally posted by vendor: ↑

"If I negative gear a proper, I have income and expenses, if I get a refund it's because I have paid too much tax, I get a refund.'

"Except by definition by having a NG propert you haven't paid any tax on it!"

You don't pay bloody tax on it! Do you understand that?
You add all your income up and all your expenses up and work out a taxable income.
You then either pay tax or receive a refund

Tax law - your total taxable income!
You aren't following Australian tax law, go and understand it!

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I understand it completely, I'm saying it's wrong.
Individual tax streams should be accessible separately ie no NG it should be scrapped.
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