how to calculate how much tax you pay when generate rental income in Australia and live overseas?

Discussion in 'Accounting & Tax' started by Jat, 28th Aug, 2017.

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  1. Anthony Brew

    Anthony Brew Well-Known Member

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    Damn.
    Yeah depends on their definition of "foreign"
    Also if it is a once off fee for purchase or a yearly fee like land tax.
     
  2. Laken

    Laken Active Member

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    Yeah the proposed surcharge for WA is stamp duty related - hence one off. But these things are so fluid its crazy. As long as they dont treat citizens in the same way as every non citizen foreigner than thats fine by me. Its when we are lumped in the same group when it really gets to me.
     
    Sick_of_scams and Anthony Brew like this.
  3. Anthony Brew

    Anthony Brew Well-Known Member

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    Agreed.

    It is idiotic too - basically telling citizens who are living overseas to not invest and instead come back to live off the pension.
     
  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The issues here highlight the importance of structure. A human owner can easily change tax residency and be affected. However there are other forms of ownership which may retain Australian residency independently of the persons and potentially access different tax rates. Examples include SMSFs, Trusts and Companies.
    The issue for them is not triggering entity non-residency. Legal, tax and financial advice is needed

    The advice would consider the issues of land tax, income tax, residency and indirect taxes like land tax as they may apply to a citizen who is non-resident