phillip knapp

can any one advice. we are leaving a house in the uk and will be renting out. With the monthly rent is it best to leave money in uk bank account, use uk credit cards, use money to pay off credit cards. Or send money over to aus account.

will be paying tax on it in uk, if we send over to aus do we pay tax again.

phillip.

Jirrupin

Hi Phillip,

This subject has been discussed recently. Basically when you migrate to Oz you become liable for OZ taxation on your worldwide income. Take a look at these recent threads for more information.

http://britishexpats.com/forum/showt...ouse+in+uk+tax

http://britishexpats.com/forum/showt...ouse+in+uk+tax

phillip knapp

Thanks for your reply, had a quick look, looks a bit complicated.

topcat

It's not just if you migrate, basically if you live here for more than 6 months you'll be classed as a resident and taxed on every penny you have in the world.

I read that in recent years Australian landlords have claimed so many deductions, their average tax bill on rental property has been negative... that's the way to go.

TC