All Topics / Legal & Accounting / Personal Tax Loss

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  • Profile photo of ptkingptking
    Member
    @ptking
    Join Date: 2003
    Post Count: 7
    August 17, 2007 - 6:39 am

    Hi,

    I was wondering, if you make a personal tax loss for the financial year brought about by negative geared property losses, will the tax office pay you every quarter based on the aunnual assessment, or are the losses deffered and set off against any future capital gainsor income.

    Any feedback would be greatly appreciated.

    Thanks

    Peter

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    August 17, 2007 - 7:21 am

    It is added to your taxation assessment and your tax return includes a cheque.

    If you know the amount you can ask for the tax taken from your pay each fortnight to be reduced accordingly.

    Cheers,

    Profile photo of ptkingptking
    Member
    @ptking
    Join Date: 2003
    Post Count: 7
    August 17, 2007 - 9:22 pm

    Thanks for your feedback,

    Peter

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