Sounds like joint tenancy BD. Any potential negative gearing/rental income will be shared. Maybe a good idea to properly value the property and again when/if you move back in to ascertain any capital gain. You'll real estate guy will know more. The paint and carpets will not be written off as it is an improvement before it has been rented. I may be out of touch though - grab a local accountant - they'll explain everything in an hour or two. Maybe different in Qld.
