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Maintaining Negative Gearing Benefits When Working Overseas

Discussion in 'Accounting, Tax & Legal' started by pjb89, 28th Feb, 2007.

  1. pjb89

    pjb89 Active Member

    Joined:
    1st Sep, 2005
    Posts:
    29
    Location:
    Abu Dhabi
    Hiya all

    Can anyone tell me whether or not the ATO will allow adjustment of your (day job) income via the ITWV (Income Tax Withholding Variaton) for income earned in say the US/Canada. Both countries have the double tax agreement I understand, but I am uncertain whether or not working in either of these countries, paying their taxes whilst getting paid in Australian dollars in your Australian account will permit such a thing?

    I might have an opportunity to work in either of these countries, but the negative gearing benefits that we have here in Australia are an important part of ensuring that we can afford to hold the IP's.

    Pedro