Frequently Asked Questions

Our Frequently Asked Questions section is aimed at providing you a extensive list of common questions that may affect you.

This reference is regularly updated and you are welcome to submit any question you may have to tax@smats.net and we will be happy to assist.

I am thinking about buying a property in Australia and heard there are new fees for foreign investors.

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My property agent has suggested that I spend some money and renovate my apartment, is this a good idea?

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I’ve heard you cant get a loan to buy Australian property unless you live there, is that correct?

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I have a property in Australia but my expenses are more than the rent, do I need to lodge a tax return?

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I am thinking of giving my parents in Australia some money to help them out, are there any tax issues if I do this?

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5 Rules to follow when buying

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I am thinking about returning to Australia so I am worried my overseas salary will be taxable if I return before the end of the financial year.

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I am going to do some renovation on my rental property, what can I claim against my income tax?

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My family live in Australia while I work overseas, does this mean that I will be taxed in Australia?

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I am thinking of paying off some of my Australian investment property loan to save some interest, is this a good idea?

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I am moving back to Australia soon and intend on living in my property before I sell it, how long do I have to live in it so that it becomes tax free?

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I have recently received a letter from the Australian Tax Office threatening to tax my foreign income. What should I do?

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We recently increased the loan on our Australian property, can we claim the extra interest?

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I have been working overseas for a while now and heard that I might have to pay back my University Loan even though I am overseas, is that true?

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Avoid the common traps of buying

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I have heard there is a new tax when you sell your Australian property?

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There have been increasing conversation in Australia about possible changes to the tax benefits around “Negative Gearing” for property investors, what does it all mean?

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I have a house in Australia and want to buy another. Is it best to sell my current property to get the money to fund the second?

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We are getting ready to move down to Australia and I will be transferring some money there shortly. How much tax will I have to pay on that?

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I just bought a property in Australia using a Buyers Agent, is their fee tax deductable?

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I am heading back to Australia after living in Singapore for the last 5 years is there anything I need to worry about in regard to Australian Tax?

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When I moved up from Australia, I had some expenses and also put my furniture in storage. Can I claim any of these costs?

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I am going to buy a house in London using some of my loan in Australia, can I claim the interest against my Australian tax?

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I have a property in Australia in just my name and I want to give half to my new wife. Is there any problem doing this?

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I have been offered an investment that claims it is tax free in Australia after 10 years, is that true?

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