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  • Profile photo of andymitchellandymitchell
    Participant
    @andymitchell
    Join Date: 2005
    Post Count: 67
    July 7, 2006 - 12:38 am

    I’m pretty sure I know the answer, but thought I would run this past you.

    If I work overseas for e.g. 2 years, is there any way to keep an IP -ve’ly geared?

    I’m thinking if I dont have an income in Australia, how can I utilise tax deductions on no income?

    Profile photo of elkamelkam
    Member
    @elkam
    Join Date: 2006
    Post Count: 722
    July 7, 2006 - 12:47 am

    Hello Andy

    You may want to read through the thread at the link below. Someone was just asking the same sort of question a few days ago. There might be some information there you can use.

    https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=24430

    Cheers
    Elka

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196
    July 7, 2006 - 1:19 pm

    Hi Andy

    Just a quick reply. You can’t negatively gear while you’re away, if you don’t earn any income in Australia. However you can accrue these loses while you’re away and use them against Australian earned income when you get back.

    Of course, you should check this with a good accountant but that’s how it worked for us while we were overseas.

    Cheers, Paul

    Paul & Karen Dobson
    negative2positive
    Turn your negatively geared property into positive cashflow.
    Phone: (02) 4984 9540

    Talk to us about Wrap Training Joint Ventures.

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    http://www.vendorfinanceinstitute.com.au
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    An alternative way to finance your home.

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