RainyDay said:Make sure to take the tax impacts into account when doing your calculations.
To bo honest, I'm not sure of the exact tax issues for non-residents. I'd imagine that your income will be taxable in Ireland and/or Oz for a start.Bishop said:Such as?
Are you referring to that fact I won't get any mortgage relief once I've left?
I'm talking about your rental income, the money the tenants will be paying you. International tax issues are quite complex. The question is not 'why would it be taxable' - the real question is 'why would it not be taxable'? I know nothing about the Oz tax code, but the fact that you are earning money in Ireland does not necessarily mean that it is not taxable in Oz. You need to check out if a double-taxation agreement exists between Ireland and Oz, and if so, how would Irish rental income be treated over there.Bishop said:When you refer to income you mean for the house tenants, No? If so why would it be taxable in OZ.
If you're not going to make money, why would you do the deal? I'm not being smart here - just trying to tease out the issues. Your definition of 'not making money' is 'rental income = mortgage repayment'. But this doesn't hold water. With each mortgage repayment, you owe less money to the bank, so you are 'making money' each month.Bishop said:Also the idea would would be to have the tenants rent match my repayments fairly closely. I;m not looking to make money on the deal. Would this lessen the tax burden?
Yes - Just click the edit button & look for the 'delete' options.asdfg said:This was posted in error. Can posts be removed once posted
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