can someone explain to me the tax situation if Aussies buy USA property- do we pay tax on the rent to USA and AUst govts?
Liz2005
Australian and USA would have a double tax agreement, so there would not be double taxing. Any income tax paid over there would be taken into account.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Liz
Have a read of:
http://www.mortgage-investments.com/Investors_in_Real_Estate/overseas_investors_in_US-real_estate.htmI have not invested in property in the US but what I have read so far indicates that I’d probably buy within an US based LLC (Limited Liability Company) if I was to venture over there.
Another interesting series of posts on the subject is at:
http://www.somersoft.com/forums/showthread.php?t=18101I hope this helps. Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Many thanks for the replies – they explain it well
Liz2005
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