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Thanks HiEquity. ...and that carried forward loss of $4K from 2009/10, per my example, could be included within a 2010/11 ITWV Application providing you were not paying 0% tax in that year...

Thanks Rob. So the ATO won't advance you the remaining $4K even though via the ITWV they're basically advancing you $12K via 12 x $1K instalments through the year. They'll accept your application but won't pay out in full until after EOFY. Seems a bit inconsistent...

Can I ask please what happens in the following example: your salary is $60K and the annual PAYE tax is $12K. You have 2 negatively geared IPs in your own name and expect/calculate your tax refund for 2009/10 as being $16K. You submit a ITWV Application so as to access your refund during the...