Am I a Non-Resident For Tax Purposes

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chrishardy
Posts: 47
Joined: Wed Jun 17, 2009 4:09 pm

Am I a Non-Resident For Tax Purposes

Post by chrishardy »

Hey,

I am an Aussie citizen living and working in London. I have been in London for the last 5 years. My company is paying me in Pounds (£) and I am paying tax on my income.

While living overseas I have maintained my AUS bank account. I also own an Australian investment property that is being rented out for $420 a week. I use my AUS bank accounts for any extra funds needed for my property e.g. council rates and the difference between the rent and repayments of the loan.

I would like to know if I am able to be considered as a non-resident or expat for tax purposes. What important information should I be aware of?

Any information you can provide me would be great!

Cheers!

Chris :)

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Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Am I a Non-Resident For Tax Purposes

Post by Otto Dargan »

Hi Chris,

Being that you are currently living and working overseas you would be eligible to be considered as an Australian expat/non-resident for tax purposes.

Living and working in London, you will be entitled to the double-taxation agreement (DTA) between Australia and the UK. This means that you will only be taxed on Australian investment income i.e. your investment property.

You will need to contact an accountant to clarify your income and tax queries as we do not handle accounts and our advice is general advice only.

For more information you can check out our Non-Resident page and Australian Expat page.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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