Re: enoughs enoughs Im going
 

Thanx for that advise Yanchep we will get onto it tomorrow. Good luck to you for a very very happy future down under :thumbsup: Ronnie and Deb

Re: enoughs enoughs Im going
 

If you rent it....

Get an NRL1 from for the tax office. That way you'll recive 100% of the rent, without the form the renatl agent must (by law) deduct income tax from the rent.
http://www.hmrc.gov.uk/cnr/nr_landlords.htm

Check out Rent insurance, to cover the rent if the tenant cannot pay
www.letsure.co.uk
Quote...........

Tenants can fall into arrears for many reasons, even those with favourable references. Can you afford to lose monthly income?

In an uncertain world, it's good practice to obtain protection. Tenant's circumstances can change for any number of reasons, so it's prudent to minimise the risk to your income. Rentsure Silver can assist to protect your rental income. The insurance provides:

Rent Insurance; protection to pay the monthly rent for up to 12 months on breach of tenancy agreement
100% of the rent paid until full and vacant possession is obtained
75% of the rent paid for up to 2 months once full and vacant possession is obtained until the property has been re-let
Covers monthly rents up to £5,000 (or higher upon request)
Covers Legal Costs:
to obtain possession of the property on breach of the tenancy agreement
to defend a Legal Action brought against you by your tenants
to remove squatters
Pays the cost of alternative accommodation up to £50 per day or a maximum £1,500 per claim
Cover is only available for properties to be insured within England, Scotland or Wales
Insurance premiums are a tax deductible expense
A Letsure Comprehensive Tenant Assessment will satisfy all the referencing requirements of Rentsure Silver Insurance. The Letsure Tenant Referencing Service is available online.
****************


Check out British gas Home Care to cover all your plumbing, electrics, central heating etc
http://www.britishgas.co.uk/products...down-care.html

Recommend you use an agent (that you know is good).

Went to see a tax accountant.
He suggested I work out how much income I have received from the property
Deduct all the expences, rental agent, insurance, maintainance 1 X flight to the UK to check on the property (if the property is in joint name you claim 1 X flight each).
If you can show you made a loss, then this is a tax deduction which can be claimed for. Gonna be busy with the calculator at the weekeknd!

Neil.

Re: enoughs enoughs Im going
 

I know it well... :D I'm in the Blue Mountains, West of Sydney by an hour and a half.

:)

I don't miss Aylesbury at all. :thumbsup:

Re: enoughs enoughs Im going
 

Neil,

Thats a great help thanks, I am due to go to see tax office about the rental tax thing on monday, now I know what :confused:form to ask for, cheers for that. Do you know if we have to pay tax in oz for the rental in england

Re: enoughs enoughs Im going
 

Yes......it is taxed as part of your annual income.

G

Re: enoughs enoughs Im going
 

hi we have rented our house out in the uk for 1 ans 1/2 years and as we understand it, as we are living in australia and are permanent residents here we are exempt from paying tax on the rental income. We got a form from our managing agents filled it in and as long as the income is less than £5000 or there abouts we dont pay tax and we havnt !!!!! we are classed as overseas landlords.

We have a uk bank account (nationwide) where the rental income is paid into each month and because nationwide do not charge for withdrawals from ATMs overseas there is no cost to withdraw our money and the Australian Govt dosnt have to know either

good luck to everyone on their move here we love it and have no plans in the near future of returning to the uk we live in Noosa on the Sunshine Coast

Re: enoughs enoughs Im going
 

But you are not exempt from australian tax....like it or not.

Re: enoughs enoughs Im going
 

i understand if our rental income is paid into our australian bank accounts we will have to declare and pay tax but as it is currently being paid direct into our uk bank account with a uk postal address how will the australian govt know ?????

can i ask do you work for the tax people over here in australia?

Re: enoughs enoughs Im going
 

It's called tax evasion :curse:

I pay my taxes, so why shouldn't you?

Re: enoughs enoughs Im going
 

Renth...you would be aaaaamazed how many Poms do this.

Re: enoughs enoughs Im going
 

Hello 'Yanchep',

It's me Deb. Was browsing through BE and came across your thread. Mick and I are thrilled that you've taken the bull by the horns. We can't wait for you to get over here and join us living the dream (there's a bottle of wine in the fridge at the ready for ya mate).

Hello too to Mick and Claire. Really glad the house has now sold and you are on your way. We met last year at one of the meet ups for the Herts lot. We are now happily settled in Perth and have no regrets.

If you are still coming to Perth then give us a shout when you get over here and we'll have a few tinnies to celebrate.

Debs

Re: enoughs enoughs Im going
 

in reply to your question tax evasion ?

my partner and i have had jobs since the day we left school i have always paid taxes never claimed the dole i have even had 2 jobs to pay the mortgage and paid extra tax on the 2nd job

Your comment on tax evasion should really be aimed at the real fraudsters who have ripped off the uk and australian govt claining disability, child care, seekers allowance, etc etc they are the real tax frauds !!!!!!!!!!!!!!!!

People comming over here are now having too many problems which you prob didnt have ie low exchange rate, cant sell their house massive mortages and then finding out when they get here they cant buy the australian dream they have been sold in the uk of the 4 by 2 house with lots of land and pool etc etc please give people a break and a chance to make their dream work

i dont see what we are doing as tax evasion not in the Lester Piggot or Ken Dodd situation and they just got a slap on the hand and great publicity

we are just people who are trying to make a new life in an unstable world

Re: enoughs enoughs Im going
 

Lester Piggot got 3 years in jail.

Just hope that you don't get audited or you may find yourself in deep shit.

Re: enoughs enoughs Im going
 

no comment

again how can they audit our income form the uk they dont have our adddress in the uk or our bank account nos

i am not tony chef speaking to you tonight but his girlfriend my poor boyfriend is working his second 80 hour week and we are paying all our taxes
and im working here to so we are no tax dodgers

Re: enoughs enoughs Im going
 

the reason we did this is to get a head start as from this year it will be declared as we now have good jobs considering we paid every tax going all our working lives we did it to get a head start and also we have`nt worked for 12 months so the income for this year wont be taxable thanks for your advice but we sometimes needs must.

We have never claimed dole etc and paid everything considering somepeople who own buisnesses claim for every bloody thing cars, fuel etc,

it makes me bloody angry that some poeple asume your just a tosser avioding tax !!!!!!!!!!!!!!!!!!!!!!!!!!!!!! get in the real world and start to look at the bloody goverments ???????????? and get a life ( iv just finished an 80 hour week and paid my bloody tax )

thanks for your concern

tony