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Has anyone any experience of this? Phoned 4 Estate agents to get an idea of rental managing costs (average £400 pre new tenant and 10% running cost) and only one agent mentioned the NRLS. I do not know much about this but apparently Letting agents and Tenants have to let HMRC know about how much rent is paid and keep records. Letting Agents have to withold tax (unless an exemption from tax is allowed) after calculating deductible expenses etc. Any info would be very much appreciated. Thank you.
ezzie posted a topic in Money & FinanceWas just over in UK and tried to open an a/c there (want to buy property) but they said the Oz govt won't allow Australian residents to hold a/c's in UK. I've a small joint a/c in the UK but they want a credit check done before I could open a new account and of course that means providing job info etc...impossible as we live in Oz. Is it worthwhile looking at offshore banking options...I want to keep some money in Sterling.
Hi I recently arrived in Sydney on a 457 visa and applied for my tax file number pretty much straight away. I've just recieved it today and the letter states that i'm classed as Non-Resident when i thought (using the tool on the ATO website) that i would be classed as a resident for tax purposes. Does anyone know if you get classed as a Non-Resident and then after been here 6 months you change to resident? Also, if i have been classed wrong, do i just need to go to the local ATO and get it changed? Thanks in advance Andy
Guest posted a topic in Aussie ChatWith the exchange rate so low, we're thinking about leaving some sterling in a UK deposit fund to earn some interest while we wait for the exchange rate to improve (maybe that's wishful thinking). Does anyone know whether we would be liable to UK tax on the interest earned once we've become non-residents of the UK? I know that Australia taxes its residents on all earnings world-wide but we would place the cash in my spouse's name who will have 0% marginal tax rate in Australia. I guess if we had to pay UK basic rate tax, we could get a credit via the double taxation agreement, but it's a bit messy. Anyone come across this specific situation?