Q20.12.7

(Tax losses, partner in partnership)

The following data relates to Stephanie Garner, a resident taxpayer. Stephanie derives income from a public relations business and is also a partner in a marketing business.

2015/16 2016/17 2017/18 Assessable business income $ 93,400 $ 126,000 $ 133,400 General business deductions 80,000 129,000 119,200 Share of Partnership Net Income (Loss) (21,800) 14,900 (5,600) Superannuateon and Gifts 4,000 11,000 8,000 Net exempt income 1,500 3,000 2,000