Sometimes we find that people have, what could delicately be termed as, “forgotten” to declare foreign income. Perhaps they didn’t realise they had to, or they had forgotten they had a flat in the UK, or that if they worked overseas but forgot to take their wife and kids with them they were still resident for Australian tax… Read More Have you forgotten to declare foreign income?
This is harder than it may first appear at first glance… First, you are allowed a tax credit for foreign tax actually physically paid by the time your Australian tax return claiming this credit is lodged. Second you can only claim a credit for tax paid on the income actually included in the Australian tax… Read More How Do I Claim a Credit for Foreign Tax Paid?
Well, if you are a permanent Australian resident then the answer is a resounding yes. Although there is a double tax agreement between the UK and Australia, the devil as always is in the detail. The agreement states that where rental income is derived in the “other” country, which in this case would be the… Read More Do I Have to Pay Australian Tax on my UK Rental Income?