A New Tax System (Family Assistance) Act 1999

Sch 3 clause 6 repealed by No 27 of 2009, s 3 and Sch 3 item 21, applicable in relation to income years starting on or after 1 July 2009. [ Note: No 27 of 2009, s 3 and Sch 3 item 102(2), states that the amendments do not apply in relation to " a claim for baby bonus (within the meaning of the A New Tax System (Family Assistance) Act 1999 ) if an estimate contained in the claim is for a period beginning before 1 July 2009 " .] Clause 6 formerly read:

6 Net rental property loss  
6
The net rental property loss of an individual for an income year is:

(a) if the expenses incurred by the individual on rental property during that year exceed the individual ' s gross rental property income for that year - the amount by which those expenses exceed that gross rental property income; or

(b) if the expenses incurred by the individual on rental property during that year do not exceed the individual ' s gross rental property income for that year - nil.