Background Most Australian resident individuals who invest in a rental property located outside Australia are assessed to tax in Australia on the net rental income in a similar way to rental income that is received from an Australian rental property. Note: Australian resident individuals who hold a temporary residency visa are usually exempt from the […]
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Tax Time! Our Top 12 Tips for Your 2018 Tax Returns
As we tick over into the new Australian tax year your thoughts might start turning to the completion of your 2018 Australian tax return. At least they do in the minds of registered tax agents! Here are our top 12 tips for those of you who have UK and Australian tax returns to prepare for […]
Reduced personal tax rates announced in Australia
Legislation has now passed the Parliament in Australia which will reduce the rates of income and tax band thresholds. The first change – an increase in the 32.5% tax band – comes into effect at the end of this week, ie on the 1st of July 2018. New low and middle income tax offsets are […]
Temporary Tax Residents of Australia – The Visas Which Qualify
Individuals who are living in Australia and who have temporary residency visas may be able to make use of an exemption from the charge to tax in respect of most types of income – eg income from a let property, interest and dividend income – that have a source outside Australia. For such people capital […]
Do I Need to Lodge a UK Tax Return?
A question asked regularly by those who are moving to Australia is whether there is a need to lodge a UK tax return. HM Revenue & Customs – or HMRC – issues tax returns in April each year to individuals who are already in the UK’s Self Assessment tax system. Once HMRC has issued a […]
Selling a UK Property When Non Resident? Don’t Forget Capital Gains Tax, and Reporting to HM Revenue
A new capital gains tax (CGT) regime in the UK came into effect at the start of the 2015/16 tax year – in other words from the 6th of April, 2015. The changes will affect you if you are not a resident of the UK for tax purposes and are selling a residential property in […]