Tax help please :)

Hi All,

Just a quick hopefully simple tax question re negative gearing.

Basically I am planning on taking a one year career break from August in which I will be doing a combination of travelling and working abroad. The work abroad will be in the UK and only be for 6 or so months.

As the majority of my income for that financial year will have been made in the UK, will it still be possible to claim negative gearing on my investments back in Australia at the end of financial year 2011/2012 inclusive of the income I will have earned over in the UK?

Similar topic but different question. Should my investment expenses be greater than my total income for that financial year am I able to carry over the losses into the next financial year? Just asking as I may decide not to work and just volunteer.

Last but not least, does anybody know of a really good property savvy accountant in Sydney? I’m happy to travel, but I insist they are property investors themselves so we are at least on the same wave length. My current accountant seems to have a hatred for property for some bizarre reason.

Thanks again guys and gals really appreciate your continued help

Mr M