Thinachata Posted March 29, 2016 Share Posted March 29, 2016 Hi, I was wondering if anyone can recommend any links or detailed steps as to what to do if we have a property we are renting based on an agreement of ASSURED SHORTHOLD TENANCY (i.e. not through an RE agent) in the UK whilst living here in Oz. Specifically, i'm interested what taxes we have to pay, by when, who to inform and who not to bother with etc. etc. Thanks heaps Cheers T Quote Link to comment Share on other sites More sharing options...
grahamffc Posted March 29, 2016 Share Posted March 29, 2016 For the year 1 April 2015 to 31 March 2016 you have until 31 January 2017 to submit your tax return. To do this go onto HMRC website where it is fairly straight forward, there is a box in which you'll need to enter the years rental income, and a couple of others for all the expenses - mortgage interest, insurance, repairs etc. The site will then automatically calculate how much you owe. You will then also need to include it on your Australian tax return and include any tax paid to UK HMRC as this will be deducted from your bill from the ATO to avoid you paying tax twice on the same income. Quote Link to comment Share on other sites More sharing options...
Thinachata Posted March 29, 2016 Author Share Posted March 29, 2016 Awesome. Thanks Couldn't find any threads. Thanks for digging it up for me. Quote Link to comment Share on other sites More sharing options...
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