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Claiming negative gearing on a foreign rental property

Do you know that you could claim negative gearing on a foreign property against Australian income?

Firstly, Interest expenses incurred by you after 1 July 2001 in relation to your foreign rental property are a debt deduction incurred in earning assessable foreign rental income and the full amount is allowable as a deduction against your total assessable income.

Secondly, the foreign loss rules have been repealed from 1 July 2008 and it will make the claim on the foreign rental property even easier.

For more information, contact Matt Zhou on 02 9957 4033.

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