I am now residing in Australia for over 2 & a half years and heard that the same negative gearing rules apply to properties held abroad.
My property is negatively geared with income tax return summaries in place from the IRD.
Do the same domestic negative gearing rules apply for my properties / income in NZ?
Do the same domestic negative gearing rules apply for my properties / income in NZ?
Yes - but as rent and expenses other than interest are shown as foreign income.
Interest is claimed at item D15 on tax return.
Do the same domestic negative gearing rules apply for my properties / income in NZ?
Yes - but as rent and expenses other than interest are shown as foreign income.
Interest is claimed at item D15 on tax return.
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