I assume you also mean you are a US resident. Which means you are an Australian non resident and must declared Australian source income.
If so make sure you lodge an Australian tax return each year, especially if the property runs at a loss.
These tax losses can be carried forward and come in handy when the property is sold to offset against capital gain, if any.
Good point Rob.
The de minimus rule of interest deduction under $250,000 would not make tunnu subject to the thin capitalisation rules I would think.
True, never assume anything.
