kar-kier

Last year (2008-2009), when I did my tax return, I never mentioned the house I was renting in the UK, as it was making me a loss, and I thought I only put down money I was making. I was losing about £130 a month on it (that was just between the rental income and the mortgage). Someone told me that we could of in fact used this shortfall to decrease our Australian tax.

Is this correct, could we claim for last year (and a little bit of this year) too?

K x