Although the ECPI does not form part of the taxable income of your SMSF, it does form part of the calculation when determining the tax losses of a SMSF. Section 295 - 390 of the Income Tax Assessment Act (ITAA 1997) provides guidance on this. 

The Australian Taxation Office (ATO) provides a method for calculating the ECPI of a SMSF. Basically both Capital Losses and Income Tax Losses (Revenue) need to be offset against ECPI before carrying them forward or offsetting them against assessable income.