funkft Posted June 26, 2012 Report Share Posted June 26, 2012 Hello, I am currently in the process of applying for OZ Visa and still a bit naive about certain issues - specifically the TAX system We were hoping to coninue renting out our property in UK - do you get taxed on this in OZ? Quote Link to comment Share on other sites More sharing options...
Rosshf Posted July 3, 2012 Report Share Posted July 3, 2012 (edited) Hello, I am currently in the process of applying for OZ Visa and still a bit naive about certain issues - specifically the TAX system We were hoping to coninue renting out our property in UK - do you get taxed on this in OZ? It depends on your visa and if you are a resident for tax purposes. It is possible that you pay UK tax on any income over the threshold for renting out your house and Oz tax for income there. I believe there is an agreement in place between Uk and Oz which deals with these specific issues which also means you don't pay double tax on the same income. Check out http://www.ato.gov.au/ there should be info about your visa and tax. This is also useful: http://www.ato.gov.au/content/76537.htm Hopefully a tax expert will be along in a minute... Ross Edited July 3, 2012 by Rosshf Quote Link to comment Share on other sites More sharing options...
phil Posted July 3, 2012 Report Share Posted July 3, 2012 We rented our house in the UK. The funds went into a UK account. We just filled out the relevant forms - especially the under-publicised (cos they usually end up giving you money back) P85 http://www.hmrc.gov.uk/cnr/p85.pdf On our Oz tax return, we just told them what's what and left them to it. Read everything about 9 time though! Quote Link to comment Share on other sites More sharing options...
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