Tax Losses and the Whole-of-income Cap

Tax losses will not be taken into account in working out your whole-of-income cap.

Example 11: ETPs and tax losses

Mike retires on 1 July 2016 and receives a non-excluded ETP of $200,000.

Mike has some negatively-geared investments and has a tax loss of $20,000 and a nil taxable income (not including ETPs) in 2016-2017.

Mike's whole-of-income cap is $180,000 as his taxable income is nil.

Source:

https://www.ato.gov.au/individuals/working/in-detail/leaving-a-job/taxation-of-termination-payments/?anchor=Example11#Example11

Topic: 40912