Immigrating but still owning property in N Ireland?
Feb 13th 2005, 3:40 pm
#1
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Thread Starter
Joined: Jul 2004
Location: belfast N Ireland
Posts: 92
Immigrating but still owning property in N Ireland?
If I immigrate out to Australia, but still own property in Northern Ireland UK what %taxes do I pay on the monthly income of these properties? Also if I decided to sell in the future and transfer the money to Australia, what tax would I pay on this?
Am I right in thinking, I can bring in the money when I decide to settle first time in Australia???
Cheers, G.
Am I right in thinking, I can bring in the money when I decide to settle first time in Australia???
Cheers, G.
Feb 13th 2005, 6:53 pm
#2
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Joined: Apr 2004
Posts: 34,649
Re: Immigrating but still owning property in N Ireland?
Originally Posted by kathmand194
If I immigrate out to Australia, but still own property in Northern Ireland UK what %taxes do I pay on the monthly income of these properties? Also if I decided to sell in the future and transfer the money to Australia, what tax would I pay on this?
Am I right in thinking, I can bring in the money when I decide to settle first time in Australia???
Cheers, G.
Am I right in thinking, I can bring in the money when I decide to settle first time in Australia???
Cheers, G.
- you pay Australian income tax on worldwide income, including rental profits
- you should not have a UK tax liability after deducting the personal allowance but if you do, it can normally be offset against Australian tax
- when you sell you may have a capital gains tax issue in both the UK and Australia, however there may be relief for it being your main residence.
Longer answer - see a professional.
Jeremy
