Investment property - resident to non resident

Discussion in 'Accounting & Tax' started by Sydney888, 15th Mar, 2018.

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  1. Sydney888

    Sydney888 New Member

    Joined:
    1st Jul, 2015
    Posts:
    4
    Location:
    Sydney, NSW
    We have an IP negatively geared and claiming the bank interest charged against our income.

    If we were to move overseas and still retain the IP.
    Is the bank interest charged still deductible against other Aus based income (rent and others)?
    We are planning to come back to Aus later.

    Thanks
     
    Last edited by a moderator: 15th Mar, 2018
    Sydney888, 15th Mar, 2018
    #1
    2 people like this.
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,985
    Location:
    Australia wide
    Yes it will still be deductible on Australian income.
    You might end up with a loss which could be carried forward.
    Wills till need to do a tax return.
     
    Terry_w, 27th Mar, 2018
    #2