Hi, can anyone shet some light about the new income defintion for Tax Family Benefit purposes The following are quoted from ATO website :
You will make a total net investment loss when the amount of allowable deductions you claim for your financial investments and rental properties is more than the gross income you receive from those investments. For example, you will have a total net investment loss when the amount of interest you can claim as a deduction on a loan you take out to buy a rental property is more than the income you receive from the rental property.
Examples of deductions you can claim for an investment include, but are not limited to, expenses you pay to: borrow money in order to make an investment purchase manage your investments obtain advice about your investments. Your total net investment loss does not include any capital gains or losses, such as when a parcel of shares reduces in value. A net investment loss is simply the amount by which your income tax deductions exceed the income you obtain from your investments.
My Question : can I claim net investment loss for the interest expenses and brokerage fee regardless whether the shares I bought generate dividend or not.
