should we sell or should we rent?
Jul 9th 2003, 4:08 pm
#1
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Joined: Oct 2002
Location: Leicestershire
Posts: 85
should we sell or should we rent?
I have just heard that if we rented our property out and placed all the proceeds from rental into a pot in UK, we wont pay Oz tax until we transfer it as it will be classed as capital gains, fine this is what we thought.
However, if we rent the UK house out until the market picks up then sell (and in the meantime we are living in Australia) we would have to pay a large tax bill when we transfered the money as it did not arrive with us when we migrated. Is this true? and if so how much is large?
If we sell and take the money when we leave there will be no tax to pay.
Advice needed please!!
MaggieLou
However, if we rent the UK house out until the market picks up then sell (and in the meantime we are living in Australia) we would have to pay a large tax bill when we transfered the money as it did not arrive with us when we migrated. Is this true? and if so how much is large?
If we sell and take the money when we leave there will be no tax to pay.
Advice needed please!!
MaggieLou
