Renting house in UK, doesn't cover the mortgage !!
Jan 18th 2008, 10:21 pm
#16
Social Grenade Thrower
Joined: Jan 2008
Location: South Coast, NSW
Posts: 3,625
Re: Renting house in UK, doesn't cover the mortgage !!
Are you sure about that?? You are treated no differently on a 457 Visa to any other Visa.......apart from the fact that you cant claim a lot of benefits. We came here on a 457 Visa and as far as I was aware ALL income was taxable (although obviously we decided our UK property wasn't 
).
).
Jan 18th 2008, 10:38 pm
#17
On the Dark Side :-)
Joined: Apr 2004
Location: South Wales to New South Wales!
Posts: 3,065
Re: Renting house in UK, doesn't cover the mortgage !!
As I am only here temporarily and declaring my permanent UK residence as a UK tax liability then I do not have to take it into account with my Oz tax return. However, in the UK it is classed as non taxable as its income is outweighed by the outgoing mortgage payments and also my being overseas.
We were only on 457 visa for 3 months so we didnt come across this issue when the tax return went in (not that it would have made any difference because to date.......we've made bloody zilch on the UK house!! :curse
Jan 18th 2008, 10:54 pm
#18
Social Grenade Thrower
Joined: Jan 2008
Location: South Coast, NSW
Posts: 3,625
Re: Renting house in UK, doesn't cover the mortgage !!
Luckily the package I have worked out takes that into consideration.
