Thanks Terry. If I decide to carry forward the negative income (loss), do I need to complete any paperwork with ATO in advance for next year’s tax return? Will there be a special tax return form for reporting negative income (loss) to ATO?
By the way, I didn’t know that my wife’s income could be diverted to me. Could you please elaborate on…[Read more]
I need advice on negative gearing of our two investment loans. Essentially, we have two investment properties in our joint names, myself and my wife, for the last almost 5 years which we have been negative gearing against our respective salaries. Unfortunately I have lost job and there is only little chance that I might find another one because…[Read more]