chilliman

I understand that the ATO tax endowments. I am still paying into one for my old mortgage but will bin it when I move out to Oz in March/April ... the policy is running at a loss, does anyone know whether the loss will be tax deductable when I am paying tax out there??

Thanks ...

marco121068

This may be a stupid question....but why are you still paying into it if you're planning on cashing it in in a few months?

chilliman

Timings have changed on my move to Oz, a bit sooner than expected. Was gonna hang on until the endowment was up to 10 years then I could trade it rather than be stung for the higher losses of surrendering it!!

marco121068

As I said - it may have been a stupid question

chilliman

No worries mate, I think I should have cut my losses a while ago but it was difficult when everything to do with Oz was up in the air. Still validation trip has been done & confirmed that I definately still want to get out there.I will be heading out as soon as the last bits&pieces are sorted out