tux182

No i cant say i have! I presume you ask as this will help? Also - great stuff about GM tax! Looks ideal!!

Then all the accountants i've found thus far havent been confident with the situation. So i guess i'll keep looking for another. Ideally i'd like to find someone who is experienced in this side of things. Yes i think alot between us is being misunderstood, both ways.... Thanks for the tip... Its not as straightforward as wanting to make a profit or not. Theres a fair few other factors involved (needing a lump sum for a property in Oz, being tired of renting out and the hassles that come with it), to name a couple.

Thankyou. Apologies for posting in the wrong area

Totally - i'm struggling to find one in Australia that is also an expert in UK property considerations. Which probably could sort all of this out... A tax return for the UK property for UK tax is required no matter how much or little you are making or losing financially. So when you profit, you attract tax. No, i didnt. They told me in person face to face! I dont understand why you've said this. I do understand that paying tax means you must be making a profit! But, i dont fancy pay 2k+ in tax each each on that profit... So maybe selling might just be an easier solution! This may have other complications

Hi All I'll do my best to describe my situation. For the last tax year i got taxed 2k, which was mostly because of my UK property. At least from my understanding I have been in Oz for 5-6 years. In August 2015, i finally got my PR - I work full-time - I have a small ebay business - I also have a 1 bed flat in the UK, that i own and rent out. I declare my property (tax wise) with the HMRC. My property makes a profit. Therefore i get taxed from the UK on my profit. When i did my 2015/16 tax return in Oz this year (with an accountant). Despite paying UK tax, I had to pay Oz tax on it too! My ebay business officially made a loss. My income from my job was also taken into account. But as mentioned the accountant said the bulk of the 2k was because of the property My understanding is that i made X in rent as an income. But the interest on my outstanding mortgage is minimal. Therefore i have the difference to pay tax on, which is a large sum. This hits me twice fianically (in the UK and in OZ). Or at least it did via this accountant... So my question is A) - Is this right? B) - Can i do anything tax-wise to improve things? C) - Is a better option to sell up? D) - If i do sell, how can i bring the cash over to oz without getting taxed? I hope this explains things. Thanks in advance for any tips

Hi All I'm in a bit of a pickle and I'm hoping someone can help suggest something to help out I arrived in Australia in March 2010 on a 417 working Holiday Visa. Where i did contract IT work. In Jan 2011 I got sponsored on a 457 with a perm IT job. I'm leaving the perm job in question in early Jan. No going back. Thats it. So of course I realise legally I have 28 days from my last day of employment to get a new perm job that will take on my 457, or i have to leave the country. The only other method i have of staying is transferring to a full time student visa - which of course isnt ideal as i want to get another full time role. I don't have a degree or anything as i didn't goto Uni + my IT job(s) aren't on the skilled jobs list. So a skilled migration doesn't look possible? Are immigration super strict on 'you must leave on X date no matter what? Any other suggestions/help welcomed!