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fin freedom
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@fin-freedom
Join Date: 2010
Post Count: 6
April 27, 2010 - 10:46 am
Has anyone had dealings with 'Axis' property investor group, or at least looked into them?
fin freedom
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@fin-freedom
Join Date: 2010
Post Count: 6
April 27, 2010 - 8:08 am
On the subject of vacancy rates, what about getting your property listed as a section 8 property? then there's not much worry with vacancy, right?
fin freedom
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@fin-freedom
Join Date: 2010
Post Count: 6
April 27, 2010 - 6:58 am
no joke, but Vince did explain to me why you may think this was a joke!
are you a client or friend of his?
fin freedom
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@fin-freedom
Join Date: 2010
Post Count: 6
April 27, 2010 - 6:56 am
Similar to what ambosh said, my tax guy's answer was similar, albeit slightly more simplistic. unfortunately he didn't answer my question according to my (dual) US citizenship status. anyway…
If you are not a US resident, green card holder, or US citizen you will only pay tax on the income sourced from the US.
If you are an Aus resident you will also be taxed on the US income (taxed on world wide income) but allowed a foreign tax credit for any tax paid the US.
My understanding is that you can transfer the $$ back to AU at anytime.
fin freedom
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@fin-freedom
Join Date: 2010
Post Count: 6
April 17, 2010 - 11:25 pm
My American Bank will charge me 1% of the transfer amount to wire it to my bank in australia. But i'm not sure of the associated tax implications on this money. There is an American tax guy in sydney who may be able to answer this. i'll try to ask him and post the answer.