Hello, I am a UK citizen, living and working in the UK. I havent worked in Australia since 1999 (I have a permanent residency visa in my UK passport) However in April 2004 I spent a month in WA and bought a property, which I rent out, making a small net loss. I had assumed that I would just declare this property on my UK tax return, but a friend has told me that I should also declare it to the Australian Tax office (I have no other Australian income or earnings). Can anybody offer any advise about this. Many thanks, Simon
Hi Syoung33,
I don’t think you are classed as a resident if you are not in Australia for more than six months. Non residents do not have to file tax returns. Anyway you are operating this property at a loss so you can’t pay tax on a loss.
But check out the ATO website
http://www.ato.gov.au/individuals/content.asp?doc=/content/12503.htmPreviously declaring the property might have been to your advantage as some services (i.e. real estate agents) used to be GST free for non-residents. Alas the govt closed this loophole
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