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Hello,
My wife and I are Australian but we're currently living and working abroad (US). We have built up a reasonable deposit however we are torn as to whether we should invest in property in Australia now or just continue to build up the deposit.
Biggest concern would be the tax implications as we are not sure when/if we would come back to Australia to live so we would look to rent the property out while we make up our minds.
Have any of you had a similar experience? What are the tax implications in Australia? From what I've heard we would be taxed severely both during the rental period and again when/if we moved back to Australia to live.
Thank you!
My wife and I are Australian but we're currently living and working abroad (US). We have built up a reasonable deposit however we are torn as to whether we should invest in property in Australia now or just continue to build up the deposit.
Biggest concern would be the tax implications as we are not sure when/if we would come back to Australia to live so we would look to rent the property out while we make up our minds.
Have any of you had a similar experience? What are the tax implications in Australia? From what I've heard we would be taxed severely both during the rental period and again when/if we moved back to Australia to live.
Thank you!