JockinTas Posted February 9, 2016 Share Posted February 9, 2016 Are you for real? If you are answering my post then please be polite, I was only mentioning a possibility, did I say it was true????I certainly don't expect a poster to reply like you did, a polite no this isn't so would have sufficed. srh82 was commenting on johngdownunder's post. Link to comment Share on other sites More sharing options...
ramot Posted February 9, 2016 Share Posted February 9, 2016 @ramot. No, it was a comment to the suggestion that being an Australian Citizen means that your income is globally taxable, even if you are non resident in Australia for tax purposes. Nothing directly at you. Best to include the post you are replying to, to avoid confusion, but thank you for replying. Link to comment Share on other sites More sharing options...
srh82 Posted February 9, 2016 Share Posted February 9, 2016 Best to include the post you are replying to, to avoid confusion, but thank you for replying. I tried but I did it from my mobile phone, and pressed the wrong button. :-( Link to comment Share on other sites More sharing options...
Johnny Posted February 9, 2016 Share Posted February 9, 2016 If you work in a country that has no tax, eg Brunei when we lived there, as British we were OK, but I think there is some rule that you mustn't spend more than a certain length of time in your home country annually? I seem to remember Australians had more of a problem with the tax situation? do all countries have a dual tax agreement with Australia? I thought the dual taxation agreement was scrapped years ago. For a UK only citizen, you just need to spend less than 90 days per tax year in the UK to have expat tax-free status. Link to comment Share on other sites More sharing options...
newjez Posted February 9, 2016 Share Posted February 9, 2016 Bit of a generic question I know! Short story is were approaching our 4th year here, and seriously considering a move back to UK (many many reasons, too many to list). My dilemma is what to do with our house here in Australia? Sell the house before we leave (bought it stupidly fairly recently so we'd have to try and sell it for what we paid for it, or close to), or rent the house out while we relocate to the UK. My reasoning behind this is that it's nice having the assets in bricks and mortar, and we don't know how long it'll take us to be eligible for a mortgage again once we hit UK shores. I'm thinking it could be a good idea to keep this one as an asset, and try and sell it once we become eligible for a UK home loan once again (with secure jobs etc). It would be good to hear from someone who has been in a similar situation? We'll probably do a holiday back home first just to make sure (not been able to afford a trip home since we landed 4 yrs ago!). Cheers. I did it. It's a pain. Unless you have a good friend managing it for you. Basically the estate agent lied to me about the condition, and charged a fortune for repairs. Plus I had these awful tenants who never paid the rent on time, and always had a repair job to complain about to justify paying late. Nightmare. Did it the other way too. I'd never do it again unless I had a trusted friend to manage it, or I really loved it. Link to comment Share on other sites More sharing options...
ramot Posted February 10, 2016 Share Posted February 10, 2016 I thought the dual taxation agreement was scrapped years ago. For a UK only citizen, you just need to spend less than 90 days per tax year in the UK to have expat tax-free status. I should have called it double taxation, which is current. We come under this as we live in Oz on a long term temporary retirement visa (410) and are taxed on our income in UK as all our income is from UK. Yes you are right about the 90 days, but I think it can be averaged out over several years, I think 3 or 4? The reason it was relevant working in tax free Brunei was because my husband + work mates were airline pilots, and consequently were rostered to spend time in their home countries, which coupled with leave, had to be time managed. Before anyone jumps down my throat about taking a tax free contract, he like many others was made redundant with hardly any other jobs available at that time. Link to comment Share on other sites More sharing options...
Marisawright Posted February 10, 2016 Share Posted February 10, 2016 I did it. It's a pain. Unless you have a good friend managing it for you. Basically the estate agent lied to me about the condition, and charged a fortune for repairs. Plus I had these awful tenants who never paid the rent on time, and always had a repair job to complain about to justify paying late. Nightmare. Did it the other way too. I'd never do it again unless I had a trusted friend to manage it, or I really loved it. I've had four investment properties in total, over a period of twenty years so a lot of different tenants. Never, ever had a problem. You were unlucky. And I used agents not friends. Link to comment Share on other sites More sharing options...
newjez Posted February 10, 2016 Share Posted February 10, 2016 I've had four investment properties in total, over a period of twenty years so a lot of different tenants. Never, ever had a problem. You were unlucky. And I used agents not friends. I would still use agents, just have a trusted friend when you needed boots on the ground. The UK rental wasn't bad considering it was students. But the Perth unit wasn't a success. Link to comment Share on other sites More sharing options...
rammygirl Posted February 10, 2016 Share Posted February 10, 2016 We let out Aus house whilst in the UK. Used a great agent and insurance agent. Not the cheapest but well worth it. A neighbours tree limb fell on the house whilst tenants were asleep. First I knew was an e mail explaining that it had happened, the insurance claim was in and repairs organised. Oh and tenants were all fine if a little shaken and dangerous tree had been reported to council and neighbours had agreed to sort it! Strangely a tree fell on our land in the UK damaging another tree, I had a load of hassle sorting it all out. So pay for a good agent who is recommended, don't stint on insurance ( all deductible) and if you have a mate on the ground even better. The tax is a bigger though, you will need to declare income on both Aus and uk tax return. For the Aus tax there will be no tax free band and therefore all taxable income will be taxed at non resident rate 33% I think. You can offset this on UK tax return BUT unlike in Australia you cannot set it against other earnings so we ended up paying more tax than we would have done in the UK as we had a positive cash flow. Also so beware capital gains in the future as a non resident this is punitive. Link to comment Share on other sites More sharing options...
flag of convenience Posted February 10, 2016 Share Posted February 10, 2016 As long as you have an Aussie passport you have to pay tax on worldwide income even if you don't own property or don't even live there. You are an Australian citizen once you have that passport, so you have to pay your taxes in Australia for the rest of your life There's no way out of it, not being resident or not owning property doesn't exempt you anymore. You are confused with a USA citizen. Once not earning any income in Australia no tax obviously required. Link to comment Share on other sites More sharing options...
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