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G'day GaryT - thanks for your help, and yes you've put it in a way that elaborates what my accountant said, but you actually provided some reasons which is what I was after. Cheers!

Howdy - yes they said it was still deductible, as a carried forward loss or some type of fancy wording - but only for a few more years. I'm actually not really worried whether its deductible or not as its not a large amount, I would just like to get rid of the "by itself" account, and merge it...

G'day all, I dabbled in some managed funds over the years, and since I have sold all of them I have a bank account with a negative balance left over. I also have several investment properties, each with the own loan account, as well as a "buffer" account which I transfer money in/out of...