Carrying over tax deductions

[weg]

I am in the process of building my first IP. Because I already have other existing non property deductions adding the depreciation would mean I wouldn't be paying any tax whatsoever. Now if I was to build another IP in the short term am I allowed to 'bank' most of my depreciation on this second IP till such a time when the depreciation tapers off on the first IP or do I lose some of this? My husband pays very little tax and that is unlikely to change in the long term so this first IP is in my name only. Thanks.

[jrc]

You can't bank it, but if when added to your existing income and deductions you have a loss, ie your taxable income is less than zero, you can carry forward the loss to the next year.