Taxing Questions?

[noel2538]

Hi all

 

As we havent sold our house yet...we are thinking of renting it out (not keen really) but I understand there are tax implication once we become resident in Oz. We have a Perm Visa and we are going on holiday in February just to activate visa.

 

My questions is... when we will become liable for Oz tax? Is it when we activate visa or once we are issued with a Tax number when we finally get over there and start living? When we return to UK after holiday in February, do I need to inform Oz tax office so i dont pay tax...does that make sense?

 

Hope I explained it...bit thick this morning...in shock at the Oz exchange rate!!!!!:swoon:

 

Debbie xx

[Guest Liam]

You will only become resident for tax here once you move here full time and spend more than a the minimum days (I think its about 180 but check with a tax agent once you move over permanently) in the country or actually elect to be taxed as a resident on your first tax file number declaration. Caution on what I explained above as if you do say spend say 200 days here..you are taxed on the 200 hundred not just the amount over the minimum to trigger tax residency). The triggering of your visa will not matter and neither will the holiday trip.

 

Please go to this site and complete all the questions as it will help you to decide if you need to lodge a return. http://www.ato.gov.au/individuals/content.asp?doc=/content/16131.htm&pc=001/002/006/003&mnu=891&mfp=001/002&st=&cy=1

 

If you want to be 100% sure then you should complete you tax online via the ATO's "e tax" service http://www.ato.gov.au/individuals/pathway.asp?pc=001/002/014 . But I do not believe you need to worry of your only income in Australia was $150 and you were not resident for more than 180 days of the year.

 

best wishes

 

Liam

[noel2538]

Thanks Liam:wubclub:

 

That information has help alot...if we dont sell house, then we'll only be in Oz for two weeks holiday..if we sell then we'll stay and we'll get our tax number etc.

 

Debbie