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_Ucuff(Newbie)Newbie
17 July 2021

Hey all. Question is, my wife and I own 2 properties that are both rented out at the moment. She hasn't been working because we had kids and as such her taxable income was low. She was only taxed about $2000 and received it all back.

On the other hand I was taxed $40,000. I receive my 50% share of deductions and receive maximum return. Can I claim my wife's share of deductions as some sort of offset? At the moment she is making a loss as the maximum she can get back is the $2000. Can I claim her bit?

4,422 views
3 replies
4,422 views
3 replies

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Most helpful reply

BlakeATO(Community Support)Community Support
18 July 2021

Hi @Ucuff

It depends on what happened in the previous years.

If her income was not enough in previous years to have absorbed the loss, then the loss gets carried toward to later years. If her income was enough to absorb the negative gearing loss, then it must be used in the year it occurs.

You can read about negative gearing on our website.

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