Irish Rental Income while in Australia

Confused_73

Hi,

I'll be moving to Sydney in a few months and will be leaving behind a rented property in Ireland.

I seem to recall a poster here a few weeks back discussing the best way to deal with the tax liability that will ensue from this. I think this person mentioned that there was a way to declare the income in Australia to avail of relief.

Any ideas or suggestions? Is it better to declare it in Australia or to continue paying it in Ireland?

kdevitt

How you have to declare it will depend on your visa situation. If you're permanent res, you need to pay tax on foreign earnings.

If its a WHV or 457, you'll need to submit an annual tax return in Ireland and pay the tax on it there.

FTroydon

I think the onus might be on the tenants. If their landlord is living abroad the tenant has to pay revenue a portion of the rent. There is a thread about it in the accommodation forum.

d.pop

Asked the same question myself a few weeks ago but in the taxation forum. Got some great help. Basically as the house is in Ireland the tax on the rental income needs to get paid at home minus a few deductions. Depending on your visa type in Oz you may or may not be entitled to some deductions for the tax you paid. Suggest Aussie accountant for that.
We registered with all the various rental boards at home and will be going to an accountant when we go home in June on hols to sort out the Irish tax, really don't want to go home (if ever) to a big tax bill....