Jack and his wife

13 nCome from Australian soure puter and 29% rs income from foreign sources. Assuming the partnerships net income for the of its t income year is $400,000, how is this income taxed? [9233] ack (an architect) and his wife Jill (a housewife) borrowed money to purchase a rental property Jack is entitled to 10% of the profits from the property and Jill is entitled to 90% of the profits from the property. The agreement also provided that if the generates a loss, Jack is entitled to 100% of the loss. Last year a loss of$10,000 arose. How is this loss allocated for tax purposes? If Jack and Jill decide to sell the property, how would they be required to account for any capital gain or capital loss (123.2], 123.3], [123.4] as joint tenants. They entered into a written agreement which provided that property 5) Murray, Anthony, Greg and Geoff have been carrying on an entertainment business