Ruth7862 Posted April 15, 2017 Share Posted April 15, 2017 I wonder if anyone can advise please? My son lives in Australia and has a property in the UK which he rents out and I manage as I am in the UK. A self assessment form is completed for UK HMRC and no tax paid as the profit, approximately £3800, is below his personal allowance. With regards to Australian tax I have heard that the tax bill may be reduced if we were to obtain a depreciation report on the UK rental property. My question is how would we go about finding a suitable professional given this is not recognised in the UK system (the property is in the Midlands), what sort of figure could we expect to pay for the report? Is it a one off report that can be used year on year or does it have to be repeated annually? Basically does it save enough tax to be worth doing? My son is on a low income as he is a PhD student so will pay tax at whatever is the basic rate in Australia I guess. Thanks in advance. 1 Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted April 15, 2017 Share Posted April 15, 2017 Hi Ruth I think @Alan Collett may be in a position to advise you better. Hopefully he will read this post when he is next online. If he can't help then he may know someone who can Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted April 16, 2017 Share Posted April 16, 2017 Hi Ruth. I'll send a PM to you regarding the firm we invite people to approach to obtain a tax depreciation report for UK property owners who are living in Australia. Best regards. Quote Link to comment Share on other sites More sharing options...
MATT818 Posted May 27, 2017 Share Posted May 27, 2017 Hi Alan I'm about to let my property out in the UK before i get to Oz. Not heard about this and what's it all about? Could you possibly Pm me. Sorry for jumping in on you post Ruth. Regards Matt Quote Link to comment Share on other sites More sharing options...
topperjim Posted July 28, 2017 Share Posted July 28, 2017 On 16/04/2017 at 10:29, Alan Collett said: Hi Ruth. I'll send a PM to you regarding the firm we invite people to approach to obtain a tax depreciation report for UK property owners who are living in Australia. Best regards. Hi Alan I also have a let property in the UK so may I ask you to send me a PM with the company details. You help will be much appreciated Best regards Jim Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted July 28, 2017 Share Posted July 28, 2017 46 minutes ago, topperjim said: Hi Alan I also have a let property in the UK so may I ask you to send me a PM with the company details. You help will be much appreciated Best regards Jim Hi Jim. Message sent to you. Best regards. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted July 28, 2017 Share Posted July 28, 2017 On 27/05/2017 at 17:04, MATT818 said: Hi Alan I'm about to let my property out in the UK before i get to Oz. Not heard about this and what's it all about? Could you possibly Pm me. Sorry for jumping in on you post Ruth. Regards Matt Hi Matt. Did I send details to you? I can't recall. Best regards. Quote Link to comment Share on other sites More sharing options...
MATT818 Posted August 1, 2017 Share Posted August 1, 2017 Hi Allen Sorry, only just seen your reply. No you never sent me ny details. Regards Matt Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted August 1, 2017 Share Posted August 1, 2017 10 minutes ago, MATT818 said: Hi Allen Sorry, only just seen your reply. No you never sent me ny details. Regards Matt Righty-o. I'll send a private message to you now, Matt. Best regards. Quote Link to comment Share on other sites More sharing options...
MATT818 Posted August 1, 2017 Share Posted August 1, 2017 Cheers Alan Quote Link to comment Share on other sites More sharing options...
andrewajp002 Posted September 11, 2017 Share Posted September 11, 2017 Good morning Alan I have been in Melbourne now for 2 years and loving it and this forum, I never knew you could claim anything for your UK property here in your tax return. Any advice would be greatly appreciated. Also, I am thinking of selling my property next year, are there any restrictions on transferring the sale funds from the UK to here? Thanks Andrew Parker Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted September 11, 2017 Share Posted September 11, 2017 6 minutes ago, andrewajp002 said: Good morning Alan I have been in Melbourne now for 2 years and loving it and this forum, I never knew you could claim anything for your UK property here in your tax return. Any advice would be greatly appreciated. Also, I am thinking of selling my property next year, are there any restrictions on transferring the sale funds from the UK to here? Thanks Andrew Parker Hi Andrew. Maybe you can send a PM to me with your phone number? I can then telephone you to discuss your question and plans. Best regards. Quote Link to comment Share on other sites More sharing options...
andrewajp002 Posted September 11, 2017 Share Posted September 11, 2017 Cheers Alan, PM sent. 1 Quote Link to comment Share on other sites More sharing options...
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