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Eclipse

Tax on Uk Income

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Hi

 

We have been in Australia since June 2011, we have a flat that we rent out back in the UK. We only got a tenant for the flat and started receiving money when we arrived in Australia. For tax purposes, who should we contact to declare that we have money coming from the UK (I think it is worlwide income?). We have a UK bank account that the money from the flat goes into.

 

thanks x

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Guest SupportPants
Hi

 

We have been in Australia since June 2011, we have a flat that we rent out back in the UK. We only got a tenant for the flat and started receiving money when we arrived in Australia. For tax purposes, who should we contact to declare that we have money coming from the UK (I think it is worlwide income?). We have a UK bank account that the money from the flat goes into.

 

thanks x

 

It depends on your visa status. A permanent resident should be declaring it to the ATO and temporary resident overseas income will remain in the jurisdiction of the country it's earned - ie, the UK.

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Thanks SupportPants

 

We are on a Permanent Residence Visa so we should declare this to the ATO, thanks for your quick reply.

x

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It depends on your visa status. A permanent resident should be declaring it to the ATO and temporary resident overseas income will remain in the jurisdiction of the country it's earned - ie, the UK.

 

Rental income from a UK property is taxable in the UK irrespective of your Australian vsia status.

 

The likely ongoing entitlement to a UK personal allowance though means there may well be no tax payable to HM Revenue.

 

Best regards.


Managing Director, Go Matilda Visas - www.gomatilda.com

Registered Migration Agent Number 0102534; Registered Tax Agent (Australia)

Chartered Accountant (UK, and Australia)

T - 023 81 66 11 55 (UK) or 03 9935 2929 (Australia)

E - alan.collett@gomatilda.com

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Rental income from a UK property is taxable in the UK irrespective of your Australian vsia status.

 

The likely ongoing entitlement to a UK personal allowance though means there may well be no tax payable to HM Revenue.

 

Best regards.

 

Thankyou for your reply Alan

 

I will get in touch with both UK and Oz just to be on the safe side..

 

thanks again

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I believe you still need to declare to the uk tax dept AND the oz tax department BUT any tax you pay in the uk is taken into account by oz so you don't get double taxed ( that said you will be hit by the lowest denominator for tax purposes. Were just going through this for the first time here but struggling to get our head around allowances. Before submitting our figures this month. Good luck.


Steve, Cath & Maddie: Job offer 1/2/11, 457 started 1/3/09, NSW nursing reg completed 1/11/09, Meds 5/1/10, 457 approved 3/3/10, Were here 29/7/2010: Off again :eek: EN 856 meds taken 24/1/11, 856 app submitted 28/3/11, 8/5/11 Perm Res Granted

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Guest SupportPants
Thanks SupportPants

 

We are on a Permanent Residence Visa so we should declare this to the ATO, thanks for your quick reply.

x

 

I might have been quick but it seems I was wrong! Apologies.

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