carzinoz

Hi everyone,

We've done our Oz tax ourselves online prior to now but this year I started working and so it's a wee bit more complicated....hubby employed, me self employed, renting out a UK property, UK and Oz bank accounts, UK shares.

Would anyone like to recommend a tax agent in Wollongong area who has experience of dealing with ex-pats?

Thanks!

Alan Collett

If you don't find anyone suitable in Wollongong ... feel able to send me a PM or (preferably) an email, as we do tax (UK and Aus tax returns) for expats.

Best regards.

carzinoz

Thanks, I'll bear that in mind

carzinoz

I've been trying to do the right thing filling out UK self assesments and telling the Oz tax office about my UK rental income....am I the only one doing this LOL??

One couple I know told their Oz tax agent about their UK rental property and ended up being charged a heap of tax in Oz for their UK rental income then having a wait to claim it back.

Two other couples I know haven't filled out any UK self assesments to declare their UK rental income and they haven't told the Oz tax office about that income. It's been three years now and noone has chased them on it.

Alan Collett

Are you a permanent visaholder, or an Aus citizen?

carzinoz

Hi Allan,

I was a temp resident until Feb 2011, now a perm resident.

I'd like to deal with a local agent who I can talk to in person but I want someone knowledgable and judging from the lack of replies to my post I'm guessing Wollongong isn't teeming with recommendable tax agents.

Can you tell me some more about the services you can offer and the fees you charge please?

Thank you,

Caroline

paddyo

Couple of points from me;
Firstly, UK rental income is not counted when you are a Temp resident but can be counted when you go Perm. For example, we are in negative equity between our mortgage payments and our rental income but cannot claim it as as tax offset until we go permanent. Until then we suffer the loss but that can be offset by the LAFHA.
Secondly, I can recommend Alan Collet highly, both through his responses to me on here plus the Go Matilda website.

Alan Collett

Hi Caroline.

Please feel able to complete the details here:
http://www.gmtax.com.au/contact/

I can then telephone you to discuss how we might help - after which I can send a no obligation proposal by email as to our fees.

Best regards.

carzinoz

Thanks Paddyo, I hear what you're saying about the difference between temp and perm and rental income. We went perm part way through the tax year so that's going to complicate things. Are you planning to sell at some point? I think once you are perm you become subject to Aussie Capital Gains tax if you sell the UK property, eeek! I'm going to have to look in to that some more, wishing I'd looked in to it before we went permanant!

carzinoz

Thanks Allan,

I'll be in touch,

Caroline

Alan Collett

Thanks Caroline.

Best regards.

paddyo

Not if I am using the money to buy property in Oz. If I had property here already then maybe that might apply, as it does in the UK, but as yet we are renting until we sell our UK house and then will use the profit, hopefully there will be some, as down payment for our first Oz property. Either way, until we go Perm, probably by end of year, we won't make any Oz property buying decisions.