(Tax losses, partner inpartnership)

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 2,000in $ 2015/16 2016/17 2017/18 Assessable business income 93400 126000 133400 Deduct :General business deductions 80,000 1,29,000 1,19,200 Income from Business 13,400 -3,000 14,200 Share of Partnership Net Income (Loss) -21,800 14,900 -5,600 Gross Income (G) -8,400 11,900 8,600 Less: Superannuateon and Gifts (S) 0 11,000 0 Taxable Income A=G-S -8,400 900 8,600 Deduct: Loss offset brought forward from prevoius year 900 6000 Net Taxable Income -8,400 0 2,600 working Net exempt income B 1,500 3,000 2,000 Loss that can be carrid forward A+B -6,900 -6000 (8400- 1500)