Hi there, I'm just trying to get a definate answer to a question as I've had conflicting info.

I'm looking to rent my UK property whilst in Australia. Theres no mortgage on it as I worked hard and payed it off early. Its not a large house and I'll be looking to get around £400 per month rent for it. I will be going to Australia on a student visa.

So my question is how much tax will I be liable for my property and if so how do I go about minimising the tax bill?

Many Thanks

You may have no tax to pay, as:

1. The UK rental income is less than the UK personal allowance (to which you remain entitled as a UK citizen, even if non-UK resident).

2. As the holder of a temporary residency visa who is resident in Australia you can access Australia's temporary tax resident exemptions, which (broadly) exempt investment income deriving from outside Australia from the charge to tax.

Best regards.

Many Thanks Alan thats made me feel easier about things.

Thanks again


Perksy