R
RMUL90
Guest
Hi folks..need some advice. I bought an apartment last year for 255K.As a first time buyer i paid no stamp duty on the apartment.I am now planning to move to Australia for a few years with my company. The initial plan was to rent the apartment while i am over there. However i have been informed that if i rent my apartment while out of the country it would be classed as an investment property and i would then be liable to pay back the stamp duty.
This lump sum amounts to approx €10000 so it is a hefty amount of money which i did not budget for.
Is there any way around this? I am sure a lot of people do this informally and rent out their apartment to people they know who wont claim tax relief on rental payments and therefore the taxman wont be aware of the situation. however i dont think i will be in that position and i will need to rent it through a management company. i dont want to come back from OZ with a massive tax bill hanging over me. that would be a severe comedown from OZ!!
Surely there must be some loophole to this?
Anyways any advice would be very helpful.
Thanks
This lump sum amounts to approx €10000 so it is a hefty amount of money which i did not budget for.
Is there any way around this? I am sure a lot of people do this informally and rent out their apartment to people they know who wont claim tax relief on rental payments and therefore the taxman wont be aware of the situation. however i dont think i will be in that position and i will need to rent it through a management company. i dont want to come back from OZ with a massive tax bill hanging over me. that would be a severe comedown from OZ!!
Surely there must be some loophole to this?
Anyways any advice would be very helpful.
Thanks