Rental lost vs capital gain

jshubo

Let's say person A has property A rental lost (rental income - interest etc) = 5000 in year 2016. But he doesn't have other income to offset the 5k lost, can the 5k lost to carry forward to next year?

If not, then can person A sell his other property B (hold more than 12 months) with capital gain 20000, so in the year 2016, his taxable income should be which of the following?
(1)20000/2=10000
(2)20000/2-5000=5000
(3)20000-5000)/2=7500

iceinlove

I think 3 is right, but I am not too sure...

mmllyy

2 is correct

tony_wang99

2

进口香蕉

2

sunnysr1115

2 is correct

jshubo

but if person A sell the property B in next year (2017) other than current year (2016), can the rental lost from property A (5000) in year 2016 be carried forward to 2017 so that in 2017, the taxable income will become 20000/2-5000=5000?

I heard capital lost can be carried forward, not sure about the rental lost.

Ozmark123

jshubo 发表于 2016-10-27 15:36
but if person A sell the property B in next year (2017) other than current year (2016), can the rent ...

Yes, can carry forward. if not applied against other income in previous year

000567

3

iceinlove

rental loss can be used against capital gain, can't it?
so it should be 3. you calculate the total gain by subtracting the loss and then divide 2

woshixiaofei18

iceinlove 发表于 2016-10-27 16:12
rental loss can be used against capital gain, can't it?
so it should be 3. you calculate the total g ...

That's why it should be 2.
capital gain has discount , but the loss does not have discount which means carry the full amount to be deducted

Southbridge

Your are carrying forward a TAX LOSS, created by a rental loss in a particular year.

Tax losses can be carried forward to offset NET capital gain (total gain - discount) in future years.

jshubo

Can tax lost be carried forward to offset normal income like salary?

bearjoanne

我觉得是1.

capital gain不是只能跟capital loss来抵吗？

坐等专家解答

bearjoanne

jshubo 发表于 2016-10-27 19:53
Can tax lost be carried forward to offset normal income like salary?

这个是肯定的，我问过ATO。

但是比方你某一年没收入，投资房loss 5000块；第二年收入1万块，就必须把这5000算进去，结果虽然跟不算进去一样，都是不交税，但是这5000的loss就等于用掉了，而且必须用掉。

iceinlove

woshixiaofei18 发表于 2016-10-27 16:57
That's why it should be 2.
capital gain has discount , but the loss does not have discount which  ...

got you... it makes more sense. thank you

juliez

我也觉得是1。rental loss已经通过税减少了。卖房抵的是capital loss。请专家解答一下

2018发发发

大家伙一起看吧

jshubo

looks like most people said (2) is correct. If that is the case, then in the following case:

Person A has property A rental lost (rental income - interest etc) = 5000 in year 2016 and sold property B with capital loss = 4000 in year 2016. In year 2017, he sold property C with capital gain = 8000. In his tax return in year 2017. Is the following correct assuming he doesn't have any other income?

(8000-4000)/2-5000=-3000, he will carry forward 3000 as rental lost in year 2017.

johnny2012

1 looks right

glk47

jshubo 发表于 2016-11-10 21:31
looks like most people said (2) is correct. If that is the case, then in the following case:

Person ...

太复杂了
楼主有mytax账户么？有的话登录进去把数字填了算算就是。只要别lodge了，随你怎么试。

invalid

Rental loss不能移到下一年，这个我99.9%确定。但我100%确定只有capital loss在没有capital gain来offset的情况下才可以移到下一年。

ctlol

学习了