Hi everyone,
We are considering a move back to Sydney following 3 years in the UK, we are dual nationals.
Ahead of our move we are looking to buy a property as our family home, but would let it out until ready to move.
Having searched Google extensivley there is scant information around this specific situation.
I was wondering if anyone here has any insight on the following questions:
If we let out a Sydney property whilst in the UK which tax deduction rules would apply in which order?
Mortgage interest relief is now limited in the UK but do the Australian rules apply first when we are UK resident?
When we move back to Sydney, would there be any tax issues with moving into a property that we had previusly let out?
Is it relatively easy to convert an investor mortgage to a normal residential mortgage in Australia?
As always appreciate your comments and feedback - thanks in advance!
M