WE are currently in the UK but own and rent out a house in SA. We were advised that as we are not resident in OZ we would not need to do an OZ tax return.
WE declare the income on our UK tax returns along with our bank interest from OZ less the 10% witholding tax already taken by bank.
Non Aus residents are subject to Australian tax on their Aus source income and capital gains, with tax payable on assessable income at non resident rates of tax => yes, you may well have an obligation to lodge an Australian tax return.
Feel able to send me an email if you would like some formal assistance and/or would like a proposal as to fees.
Best regards.
Alan Collett alan-at-gomatilda-dot-com Registered Migration Agent Number 0102534 Fellow of the Institute of Chartered Accountants in England and Wales Member of the Institute of Chartered Accountants in Australia http://www.gomatilda.com and http://www.gmtax.com.au Offices in Southampton - England; Melbourne, Perth, and Brisbane - Australia
Posts: 3367 | Location: Southampton, UK | Registered: 01 August 2002