Question about tax on rental income on property in uk

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Apr 5th 2012, 12:12 am

#16

Kiwipaul

BE Forum Addict

Joined: Jan 2003

Location: Brisbane

Posts: 1,576

Re: Question about tax on rental income on property in uk

Quote:

Originally Posted by OzSheila

I dont claim depn on other items as I dont claim it in UK. I claim outright deduction for replacement items and replicate in Oz ITR.
HTH

This seems to imply that you use the rules for the country the house is in as I assume that is how you treat spending on the property in the UK for tax purposes.

Because if you spent $1,000 on a new cooker for an Oz investment property you would have to dep the $1,000 cost over a number of years you could not claim it in full in the year you spent it.

Apr 5th 2012, 12:47 am

#17

OzSheila

BE Enthusiast

Joined: Apr 2005

Location: Melbourne

Posts: 629

Re: Question about tax on rental income on property in uk

Quote:

Originally Posted by Kiwipaul

I keep them same mainly for administrative purposes. Used to claim deprn many years ago in UK (when in fact we still lived there but did not live in said property).

Couple of years ago bought a new boiler (GBP000's?) and claimed outright deduction in both UK and Oz ITRs. Accountant here fully aware of facts - didn't change my figures. (Not saying they could have slipped up of course

)