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Tax return and rental property in Australia

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  • CJ
    replied
    Better to be safe in the first year.

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  • Jatz
    replied
    Thanks, I think I will just go to a accountant.

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  • CJ
    replied
    As a NZ resident, you are tax on your worldwide income. Therefore it makes no difference (conceptually) whether it is held in NZ or Australia. There are complications with Forex etc however.

    If your not sure, it may be best to go to an accountant for the first year. Then see what they do and if it is within your capabilities to do in future years. Remember that rules change so dont follow prior years return blindly (accoutants should be upto date with recent changes).

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  • Jatz
    started a topic Tax return and rental property in Australia

    Tax return and rental property in Australia

    Hi,
    I'm and Australian that's moved to NZ at the end of last year. I have a rental property in QLD and with the tax year finished here (NZ) I am wondering how I go about doing a tax return?
    The property is negetive geared and I have put about $NZ2500 into it since moving here. I've had a job here in NZ since Feb.
    Can I claim back the money that I have put into the property? Should I use a accountant or do the tax return myself?
    Any advise is greatly appreciated.
    Jatz
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