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Thanks Paul for that. Sounds like its a more complex issue than on first looks. Will discuss with a tax advisor and consider options.

Cheers guys for the feedback. No prior returns as this is the first tax return in Australia... I am a Australian tax resident now but have existing rental losses quarantined in my UK tax return... essentially carried forward foreign losses. From a CGT perspective, I have 5 years until I...

Hi all, I have searched the forums but with no avail so I was hoping you guys could help me. I have a scenario where I have carried forward losses from a property that is located in the UK (due to no negative gearing in the UK tax system). As I am now living as a resident in Sydney, would...