Are you at a net rental loss?

Negative gearing is extremely useful in reducing the tax you pay. This occurs when you bought the property with assistance of borrowed funds, and the net rental income (after expenses have been deducted) is less than the interest you need to pay.

These rental property losses can then be deducted from your other income in your tax return, helping you save on tax!

Additionally, if you’re property losses are larger than your other income, you can carry it forward to the next tax year.

 

If you need ANY help regarding taxation, feel free to reach out to us!

 

All information was sourced from ato.gov.au