the beak

Thanks BB & Maryrose 02, Much appreciated. BB, I had read about the depreciating aspect you mentioned some time ago but had forgotten about it and the fact that one needed an survey done, whereas a few years ago it was difficult to arrange, nowadays there are people offering that service, so its not so hard. Thanks for the info and the tip on which company to use. Thanks.

Thanks Andrew, Yep, I've tried gmtax. Discussed briefly with receptionists who took down subject and my details last week and twice this week...........no calls returned as of yet though.

G'day, Sorry but I posted this on another thread but it seems to be getting no responses, maybe people are unsure viewing that thread... Can anybody advise me of any specialists in this area? I have numerous questions relating to the subject matter & am looking for an initial phone call, with a view to scheduling an appointment in person. ---------------------------- I have researched numerous posts on here on the subject and have a broad understanding of it, but have specific questions unanswered. E.g - what other deduction can I claim from my uk rental income on my Oz tax return, such as the uk 10% wear and tear deduction, for furnishing etc ( im aware of the common ones, loan interest, insurance, maint, council fees etc) Regards Dean

Not had much luck posting in other threads witin this forum........... G'day, Can anybody advise me of any specialists in this area? I have numerous questions relating to the subject matter & am looking for an initial phone call, with a view to scheduling an appointment in person. ---------------------------- I have researched numerous posts on here on the subject and have a broad understanding of it, but have specific questions unanswered. E.g - what other deduction can I claim from my uk rental income on my Oz tax return, such as the uk 10% wear and tear deduction, for furnishing etc ( im aware of the common ones, loan interest, insurance, maint, council fees etc) Regards Dean

G'day, Can anybody advise me of any specialists in this area? I have numerous questions relating to the subject matter & am looking for an initial phone call, with a view to scheduling an appointment in person. ---------------------------- I have researched numerous posts on here on the subject and have a broad understanding of it, but have specific questions unanswered. E.g - what other deduction can I claim from my uk rental income on my Oz tax return, such as the uk 10% wear and tear deduction, for furnishing etc ( im aware of the common ones, loan interest, insurance, maint, council fees etc) Regards Dean

Thanks Wolves, much appreciated. Am getting most of my figures down before i go see the accountant so any info would be great. Not included my uk stuff before (was temp visa etc) but got a couple of years worth to do now.

G'day, I've been reading the above ruling concerning fixtures and fittings, from part or fully furnished rentals (UK) If understand correctly from the HMRC website and pim3210 - furnished lettings: wear and tear allowance:- a deduction can be made from a uk standpoint. Does this ruling apply also here in Aus, or anything similar ? I understand current deductions here from the rental income are: loan interest maintenance agent fees insurances council rates and other fees have i missed any others regarding what i can deduct here in Oz, to calculate my rental 'income' ? thanks

Hi, After a little info on CGT. Assume Australian resident for tax purposes. What would happen if UK house is sold ? House is valued at X amount at time of coming to Australia as a perm resident - 2006 House is sold say in 2014 as a permanent resident of Australia. Is any CGT – The value of X (2006) and the exchange rate at the time (say approx 2.2) - minus any gain, i.e the value of X (2014) and the exchange rate at the time (lets work on it’s the same as now 1.6) Reason for the question – Is any so called “gain” in the price of the house, not actually a gain as the poor exchange rate at the current moment between the AUD and the Pound means the gain is reduced or even wiped out depending on the figures? Or is it simply calculated on a forex gain and the value at migration to Oz is irrelevant ? By this i mean house sells in 2014 for X. Money is held in UK awaiting favorable exchange rate. Money is transferred in 2015, as exchange rate improves from 1.6 to 1.9 therefore one has made a forex gain. Is this how, if any, capital gain is calculated ? What if a house is sold, and the money is transferred shortly after with no real difference in exchange rate and hence no forex gain ? Im thinking any forex gain is added to a persons taxable income and taxed according to what tax bracket a person falls into or are other values used. Thanks for any info.