HM Revenue’s Let Property Campaign provides an opportunity for those with rental income from property in the UK and who haven’t previously told HMRC to declare the existence of this source of income. The Campaign is available to all residential property landlords whether they have one property or several properties, so long as the rental […]
Income Tax
Australian superannuation contributions – Catch up measures now in place
Since the start of the previous tax year – ie from the 1st of July, 2017 – it has been possible for individuals to make personal contributions to an Australian superannuation fund, and to claim a tax deduction for contributions paid. The result of making a personal contribution to a super fund is to reduce […]
Moving to Australia and Letting a UK Property
If you are moving to Australia and will be letting a property in the UK there are some important tax planning and compliance issues to consider. HM Revenue & Customs in the UK will have some interest in what you are doing and you must take care to jump over all the necessary barriers – […]
Tax in Australia on UK Rental Property – Deductions for Depreciation and Capital Works
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 […]
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 […]