I’ve previously owned a rental in Auckland that’s built up 16k of tax losses that I cannot offset against any investment income as I’ve sold the property.
My wife and I have bought our own place to live with the proceeds and we own one rental but in her name only (bought before meeting me).
Therefore I’ve got no investments in my name apart from KiwiSaver (which I’ve just looked up I can’t offset against).
So what are my options here? Buy a rental that makes tax profits, shares that pay dividends or fixed interest to slowly make 16k worth of income to offset against? Does the 16k loss ever “expire” as such?
Thanks in advance
My wife and I have bought our own place to live with the proceeds and we own one rental but in her name only (bought before meeting me).
Therefore I’ve got no investments in my name apart from KiwiSaver (which I’ve just looked up I can’t offset against).
So what are my options here? Buy a rental that makes tax profits, shares that pay dividends or fixed interest to slowly make 16k worth of income to offset against? Does the 16k loss ever “expire” as such?
Thanks in advance
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