matt1927

\ Same here. Just got the call from MA. 126 days in total. All my dates are over at http://visati​meline.com/stats/aus/skillselect-ens-186

Thanks Bungo and Mary. I keep getting conflicting information about me sending the short fall money back. Some people have told me that I can some how include the money I send back as tax relief and others, such as your post above, suggest otherwise. This is why I thought I'm best speaking to a professional on the matter as I'm just getting really confused by the subject. Sorry if that comes across like I'm doubting your knowledge here! Regarding the buying or selling question. Yes, you're right, the cash flow is a pain, especially with the weakening $ costing me more each time I send money back. On the flip side the property has been making a steady climb in value in the UK and that coupled with the weakening $ makes it an asset increasing in value (when calculating to AU$) at quite a nice rate so im slightly reluctant to let go for those reasons. I don't really understand where I fit with CGT so there's more factors I need to digest first I guess. Likely hood of moving back isn't a factor for me in the buying or selling question really. No immediate plans on that front.

Hi With the Aus end of tax year looming I thought it a good idea to get myself prepared and get an accountant in place that can fit my needs. Previously I've just submitted basic tax returns with no expense claims but I've since been learning that I may need someone to look into my details a bit further. I own a property in the UK and I am sending money home every year to pay the short fall between the mortgage cost and the rental income. I don't know how this works with me being on a 457 either. Are there any accountants out there that specialise in UK nationals that own UK property who now live in Aus? I also need someone who can give me advice on benefits of holding or selling my UK property. Cheers Matt

I applied 11/12 and nomination was approved 04/02. Still waiting for the visa though which was submitted same on the same date.

Thanks for raising that. So the exchange factor only comes into play 4 years after the sale. Right, ill make sure I check this one as well.

I see. So with the trend of the AUD weakening against Stirling its also worth taking this factor into account towards the gain. I'll be sure to note the exchange rate on the date I get PR as well then. As mentioned further up though, both the currency exchange rate moving in my favour and the house price increasing in my favour are both things I'd want to happen really. Although I end up paying more tax that way, it's only because I've ended up with more cash in my pocket as it were. It seems that there's always someone above you waiting for some of your money isn't there? Even though I'm losing money on this house, I still have to pay someone some of the proceeds i'll scrape together from it. Sorry, needed to vent there.

Thanks for that, I've saved their site for when I come to selling up my place. I need a better Aus accountant this year as I understand I can somehow claim on my mortgage short fall in the UK once I get PR. I'm currently sending money home to cover the difference between rental income and my mortgage cost.

Thanks mate. I did notice that bit about the 50% discount. So basically, it's in my interest to hold on to it for a year after I get my PR granted (to become applicable for the discount) but the more the value it increases (should it increase), the more CGT I am due to pay.

Great. Cheers. I'll make sure I arrange this once my PR comes through then. Out of interest, would you know what the CGT rate is on the amount taxable? The website is just a complicated mess.

Hi all. Newbie here so go easy! Apologies if this gets posted a million times. I did have a look through some threads already so I understand a little bit on this topic but I want to be sure before I take any action. I've been in Aus for just over 2 years now on a 457 visa. Over the next few months I should move to a PR visa once Immigration get around to my application. I own a property in the UK that I purchased in 2007. The property is currently worth less than what I paid for it although the property has actually increased in value from the time I left for Australia to the current date (Nov 2012 to current). Am I right to say that as the property is worth less than what I have paid for it then I wouldn't be liable for any CGT in Australia? Or does CGT purely look at the gain in value from the time I moved to the current valuation? Regardless if the property is valued at an overall loss? Also, I didn't have the property valued when I left for Australia. Is this potentially a problem? Anything else I may need to be aware of? Thanks for reading.