DaveS Posted July 23, 2012 Share Posted July 23, 2012 If my UK house costs me £600 a year after income from it - can I claim that back on my Australian tax return? Link to comment Share on other sites More sharing options...
NowPerth Posted July 23, 2012 Share Posted July 23, 2012 Have you also already claimed for it on a UK tax return? Link to comment Share on other sites More sharing options...
DaveS Posted July 23, 2012 Author Share Posted July 23, 2012 Have you also already claimed for it on a UK tax return? I have a house with a maximum rental income of £6600 per annum, and minimum costs (and I have researched that properly) of £5000. Those 2 things will be on my UK tax return. It is likely that my costs will outweigh my rental income - particularly in my first year of being a landlord. As it will be unoccupied. This cost to me - could I use it to offset my income tax in Australia? (This is hypothetical still.) Link to comment Share on other sites More sharing options...
thombatt Posted July 23, 2012 Share Posted July 23, 2012 Yes you can. Remember mortgage interest can be claimed, but not the capital portion of your mortgage payment. I don't know the ins and outs of uk taxes but there is a change in use of the property, which may have some implications for the mortgage interest detectability in OZ . Changing the mortgage to a landlord type mortgage I would think would be enough for the ATO. Unoccupied may be an issue as there may be a query whether you are a genuine landlord so be prepared for that. Link to comment Share on other sites More sharing options...
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