T tunnu 28th May, 2013 #1 I am a US citizen and I have purchased a unit in Melbourne. Will I need a Tax File Number?
Crabnet 28th May, 2013 #2 tunnu said: I am a US citizen and I have purchased a unit in Melbourne. Will I need a Tax File Number? Click to expand... If you receive rent then yes. application form
tunnu said: I am a US citizen and I have purchased a unit in Melbourne. Will I need a Tax File Number? Click to expand... If you receive rent then yes. application form
T Tigerboy 29th May, 2013 #3 You will also need to lodge a tax return declaring all your Australian source income.
AXXO 5th Jun, 2013 #5 tunnu said: I am a US citizen and I have purchased a unit in Melbourne. Will I need a Tax File Number? Click to expand... 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.
tunnu said: I am a US citizen and I have purchased a unit in Melbourne. Will I need a Tax File Number? Click to expand... 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.
R Rob G. 5th Jun, 2013 #6 Must be alert to possible application of thin capitalisation rules. Always be cautious about international tax and geared investments. Cheers, Rob
Must be alert to possible application of thin capitalisation rules. Always be cautious about international tax and geared investments. Cheers, Rob
AXXO 5th Jun, 2013 #7 Rob G. said: Must be alert to possible application of thin capitalisation rules. Always be cautious about international tax and geared investments. Cheers, Rob Click to expand... 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.
Rob G. said: Must be alert to possible application of thin capitalisation rules. Always be cautious about international tax and geared investments. Cheers, Rob Click to expand... 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.
R Rob G. 5th Jun, 2013 #8 Just used to dealing with larger investors, but I never assume anything ! Cheers, Rob
AXXO 5th Jun, 2013 #9 Rob G. said: Just used to dealing with larger investors, but I never assume anything ! Cheers, Rob Click to expand... True, never assume anything.
Rob G. said: Just used to dealing with larger investors, but I never assume anything ! Cheers, Rob Click to expand... True, never assume anything.