Hi,my house is worth approx £225,000 with minimal mortgage left.
Does anyone have views on the best thing to do?
If i remortgage for approx £80,000 & rent house out. What happens say after 3 years when we get citizenship, decide to stay in oz & sell the house for £250,000 (increase of £25,000). Do i pay tax on the extra £25k only & at what rate.
do i declare the total income 9as will be working in oz) & have to pay tax on the whole amount?
could we leave oz, come back home for a few months, then sell the house & move back to oz, would we still pay tax?

Also there would hopefully be extra funds of say £5k from the rent, presumably this would be taxed as well.

Can i purchase a house over there whilst i still have a property over here being rented out?
Thanks