Originally Posted by murgatroid
Oh Chimbu,
I said before, please get your facts right.
You cannot carry forward PAYE tax losses. You can carry forward capital losses to offset against future capital gains, but you will still have to pay your PAYE tax.
The taxman just aint that stupid, he always gets his dough, one way or another.
Sorry for the quick sidetrack of the thread, however, this is why it is essential for expatriates to get proper taxation advice. Two bit accountants in Oz will, with authority, ramble off taxation laws inapplicable to non-resident expatriates.
Murg is barking up the wrong tree here. PAYE ( in this context ) is totally irrelevant to a non-resident. Chimbu is right. A common strategy for an expatriate is to buy the house you wish to retire in now. For example, you buy your million dollar pad on the beach, negative gear the property, claim depreciation etc etc. You do not pay it off until the day you retire. So you incur approximately 50K in capital loss per year. This is perpetual. So after 10 years say, you come home in retirement or working again, with a taxation credit of 500K.
