In IT6 label Y, the loss you show is the amount by which the deductions relating to the taxpayer's rental properties exceed the income from those properties.
Labels integrating into IT6
The amount calculated integrates to label Y if it is a loss. If there is no amount integrating, enter zero at the label Y.
Income
Item | label |
|---|---|
Item 13 | Label O: Distribution from partnerships (Share of Label O relating to net rental income or loss) |
Item 16 | Label F: Deferred losses from rental property business label G: Deferred losses from sole trader business |
Item 20 | Label R - Foreign rental income or loss |
Item 21 | Rental income or loss |
Item 24 | Label Y: Assessable balancing relating to rental properties |
Deductions
D6 | The low-value pool deduction being claimed relates to the rental income or loss |
Item 13 | Label Y: Partnership deductions relating to rental properties |
Item D15 | Label J: Any deductions related to rental property |