fusela

Many Thanks, I agree that you I can get consent to let with my mortgage provivder, however it's only valid for a year or two, and then I'll be breaching the T&C's of the mortgage. If it's longer term. I'm more worried about the tax implications and will reach out to Alan for more clarity... Thanks for your input - I'm probably worrying too much but I need to get these things right in my head. The last thing I want is to me liable for CGT in both countries - while I think I understand the situation, I need ensure I've got all the facts before I make a decision. -fusela

Thank-you all for your input. As there are a lot of differing views, I'll get some professional advice. I have the time and want to make sure that I get this right!

Hello Everyone, I've had a good look over this forum but can't find what I am looking for and am hoping that the forum can help. My Wife, Daughter and I are all dual UK/Australian Nationals, we all last lived in NSW 5 years ago and are planning to move back. Since living in the UK, we have aquired a property and need to examine to options of keeping/selling the property. We are on a fixed rate mortgage which ends this year. The options as I see them are: 1. Sell the property prior to moving to Australia As this is our Primary Residence in the UK there will be no CGT What would be the impact of this in the transtion year - would any tax be payable to the ATO on the sale of the house? 2. When the fixed rate mortgage ends - transition to a Buy to Let Mortgage. I see from the board that re-mortgaging in the future is difficult What are the implications of sellng in the future? Where would tax be payablel in the furture? The UK, Australia or both? I know lots of you will have been in this situation before so would love to hear your experiences. My last move to Australia was much more simple - No property, No wife and no child! Thanks! Fusela