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Non residents - Australian Tax Implications |
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Investors should set up an Australian bank account from which to pay interest (if they are requiring a loan) and to have rent paid in to. Income tax: Investors will need to submit a tax return in Australia , where depreciation, loan costs and interest costs are claimable as tax deductions and rental income is taxable income. A service is available to property purchasers to prepare and submit annual Australian tax returns. More information can be found at: www.ato.gov.au Capital Gains Tax: This is a federal tax which is payable on the sale of property. You can get more information about this from the Australian tax Office web site at www.ato.gov.au Land Tax: This is a state tax and varies for each state. For more information: • New South Wales (Sydney) www.osr.nsw.gov.au • Victoria (Melbourne) see www.sro.vic.gov.au • Queensland (Brisbane) see www.osr.qld.gov.au Go back to the Non Resident Investors Menu Go back to the Investors Room Main Menu |