We own and rent out a house in Hahndorf but are resident tin the UK.
I know we have to do an Oz return for this income and pay the 29% non resident tax (ouch!). Although this can be set against our UK return.
Now having never done an Oz return can someone who has tell me if this is easy to do myself or should I get an accountant to do it for me. The rental income and deductions are the only thing to go on the return as we have no other Oz income and the bank interest there already has witholding tax deducted.
I have had a quote of $120-$150 per return (as we own the house jointly we both have to do one) is this reasonable? Does anyone have any recommendations?
I am pretty good at paperwork - and do the book-keeping for our business but we have always used accountants for business and personal returns in the UK.
Just waiting for the visa then we can finally come and live there ourselves! Mind you the way things are in the UK will probably just reverse the situation and end up renting the house in the UK and living in Oz