ralphand nic

Is anyone thinking of renting their house in the UK, and keeping a UK mortgage ticking over until you settle in Oz...maybe for 6-12 months lets say.

Were thinking of doing this, but think that if we decide to sell our house when we`re already over in Oz, having validated our 138 perm. residency visa, then we might have to pay substantial tax to the aussie govt.

Is this true, or could you keep a UK bank account without any tax to pay in Oz?

Is it better to sell before you go, as you have to declare all assets/cash etc that your bringing into Oz??

Confused?

JAJ

You might have to pay capital gains tax. No, leaving the money in the U.K. won't avoid Australian tax.

But think about it. Australia is only interested in gains since you become tax resident, and the rate is (substantially) less than 100%, so aren't you still better off even if you have to pay some tax?

Speargun

Hey we are in a very similar boat ..I think you should be ok as long as you sell within three years of arriving.and the way the UK housing market is going lots of other people are also thinking of renting out- please find below a link to another thread which gave us lots of advice - hope it helps!

http://britishexpats.com/forum/showthread.php?t=468222