All Topics / Legal & Accounting / Is there time limit for accumulating tax losses from negatively geared properties?

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  • Profile photo of CattleyaCattleya
    Participant
    @cattleya
    Join Date: 2008
    Post Count: 121
    February 8, 2010 - 7:55 pm

    Hello,

    I am just wondering whether there is any time limit when carrying forward a tax loss (negative gearing).

    For example, if I have a few negatively geared properties but live overseas and have no Australian income to compensate the tax loss with. My understanding is, this tax loss is carried forward / accumulated every year. Is there any time limit to accumulate these tax losses?

    Would appreciate your comments. Many thanks.

    Cattleya

    Cattleya

    Here to learn the ropes of property investing & share knowledge, not trying to sell anything at all.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 9, 2010 - 8:11 am

    I beleive you can keep rolling them forward until you have a profit which can offset them.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of CattleyaCattleya
    Participant
    @cattleya
    Join Date: 2008
    Post Count: 121
    February 17, 2010 - 5:16 pm

    Thanks, Terry.

    Much appreciated.
    <br /:)” title=”>:)” class=”bbcode_smiley” />
    co

    Cattleya

    Here to learn the ropes of property investing & share knowledge, not trying to sell anything at all.

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