capital gains and rental income in australia

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canuck66New Member
Topic author
Posts: 1
Joined: 15 Jun 2010

capital gains and rental income in australia

Post Tue Jun 15, 2010 8:24 am

Hello: I am currently in Canada but looking at the possibility of spending our winters in Australia as I have family there. This will be a few years away as I am still working here. In the meantime I am considering purchasing a rental property in Perth.
Can anyone tell me if I have to pay income tax to both the Australian and Canadian governments on the rental income of this property?? Also, what happens if I sell that property. Do I pay capital gains to both countries as well??
I have tried to understand the Australian-Canadian Tax Treaty but it's all too confusing.
Hoping someone has a straightforward answer to help me out.
Thanks
Marie:-)
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agnelsonCanuckAbroad VIP
Posts: 2869
Topics: 1
Joined: 26 Aug 2009

Re: capital gains and rental income in australia

Post Tue Jun 15, 2010 9:30 am

You will be taxable in Australia forst on renatl and cap gains arising from your property in OZ.

You will also be taxable in canada on such income, with Canada giving credit for the OZ tax.
This site is a travel site and not best source for these topics:
TN and TD info: http://forums.immigration.com/forumdisp ... -TN-Status
For US/Cdn taxes and SS/CPP:forums.serbinski.com/index.php
US Marriage-based Immigration: visajourney.com
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