OK. I think I have a bury-my-head-in-the-sand mentality when it comes to taxation.
I have lived in Australia as a permanent resident (family migration) since February 2002. I have worked in a permanent job from September to present, but am planning on returning to the UK to work in May. I could be there for six month or it could be permanent.
How would I go claiming back tax in Australia? Also, I have a mortgage in the UK and rent out my property there (which I haven't declared). How will that affect my work situation when I return? Should I have been paying tax on that income to the ATO?
I'm pretty sure that the Inland Revenue are not aware I left the country. I never filled in a P85 to claim tax back in the UK. Maybe I should leave things as they are when I go back. I'm not sure whether I need a UK accountant or an Australian one..
Your income from your property is taxable income that only the UK should know about..Unless you have been using that rental income to top up your earnings in australia.
If the rental has just been going into a UK bank account then all you need do is contact an accountant and declare it ..naturally taking into account the costs incurred for decoration and mainatainance....
The momment you start work in the UK you can be sure that anything you owe them will come to the fore withing weeks of your first salary cheque...
Of course depending on what you have to come back tax wise when you left the UK one might balance the other.....
Re your opening paragraph petec - please explain! I say this as I think you are incorrect - a person who is Aussie tax resident (as Richard probably is) has to declare their worldwide income and capital gains to the Australian Taxation Office.
You might be confused about the question of a person's domicile status - which has a special tax status in the UK in terms of the assessability of income and gains arising outside the UK, but this doesn't apply in Australia.
Best regards.
quote:Originally posted by petec: Your income from your property is taxable income that only the UK should know about..Unless you have been using that rental income to top up your earnings in australia.
If the rental has just been going into a UK bank account then all you need do is contact an accountant and declare it ..naturally taking into account the costs incurred for decoration and mainatainance....
The momment you start work in the UK you can be sure that anything you owe them will come to the fore withing weeks of your first salary cheque...
Of course depending on what you have to come back tax wise when you left the UK one might balance the other.....
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.collettandco.co.uk Offices in Southampton - England; Melbourne, Perth, Brisbane, and Geelong - Australia
Posts: 2568 | Location: Geelong, Australia | Registered: 01 August 2002
quote:Originally posted by Richard in Sydney: OK. I think I have a bury-my-head-in-the-sand mentality when it comes to taxation.
I have lived in Australia as a permanent resident (family migration) since February 2002. I have worked in a permanent job from September to present, but am planning on returning to the UK to work in May. I could be there for six month or it could be permanent.
How would I go claiming back tax in Australia? Also, I have a mortgage in the UK and rent out my property there (which I haven't declared). How will that affect my work situation when I return? Should I have been paying tax on that income to the ATO?
I'm pretty sure that the Inland Revenue are not aware I left the country. I never filled in a P85 to claim tax back in the UK. Maybe I should leave things as they are when I go back. I'm not sure whether I need a UK accountant or an Australian one..
A bit long... sorry. Advice would be appreciated.
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.collettandco.co.uk Offices in Southampton - England; Melbourne, Perth, Brisbane, and Geelong - Australia
Posts: 2568 | Location: Geelong, Australia | Registered: 01 August 2002