Q1 Which of the following is correct in relation to Division 36 tax losses?

Select one:

b. Tax Losses = Deductions - Assessable Income

c. Tax Losses = Deductions - Exempt Income - Assessable Income

d. Tax Losses = Deductions + Exempt Income - Assessable Income

Q2 A taxpayer has gross rent of $30,000 rental deductions of $38,000 and exempt income of $2,000. Calculate the Division 36 losses available to carry forward.

Select one:

c. $8,000

d. None of the answers are correct

e. $6,000

Q3 A taxpayer has gross rent of $35,000 rental deductions of $31,000 and deductible personal superannuation contributions of $12,000. Calculate the Division 36 losses available to carry forward.

Select one:

a. None of the answers are correct

b. $16,000

c. $12,000