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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Secondly, the foreign loss rules have been repealed from 1 July 2008 and it will make the claim on the foreign rental property even easier.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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Tax Tips
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The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
