All Topics / Legal & Accounting / GST refund for aussie expats

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  • Profile photo of meilin08meilin08
    Member
    @meilin08
    Join Date: 2005
    Post Count: 96

    Hi guys,

    Just received a $3000 GST refund so those of you in the same situation – may be worth a look.

    The ATO has passed a ruling that all non-residents for the period 1st july 2000 to 1st april 2005 did not have to pay GST on anything related to rental properties and selling fees.

    Your property agent can give you a refund for GST paid on management fees/any repairs done/ selling fees etc.

    Hope this helps some of you.

    Mei

    Profile photo of AUSPROPAUSPROP
    Participant
    @ausprop
    Join Date: 2003
    Post Count: 953

    very interesting. I could apply for some refunds, but then I would have to add them back into my personal return as I have claimed the GST component as a deduction, so it would be a lot of hassle. thanks for the tip tho and I will add it up to see if it is worth while



    http://www.megapropertygroup.com

    INVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT

    Profile photo of meilin08meilin08
    Member
    @meilin08
    Join Date: 2005
    Post Count: 96

    Hi Ausprop,

    This GST refund only applies to non-residents -are you living overseas?

    Mei

    Profile photo of kenkoh2000kenkoh2000
    Member
    @kenkoh2000
    Join Date: 2003
    Post Count: 103

    Dear Meilin08,

    Thanks.
    I am claiming mine back too.

    cheers,
    Kenneth KOH

    Profile photo of AUSPROPAUSPROP
    Participant
    @ausprop
    Join Date: 2003
    Post Count: 953

    Hi Mei,

    yes I was non-resident for many years, but have now resumed Aussie residency. I just need to try and remember what I was doing back then :)



    http://www.megapropertygroup.com

    INVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT

    Profile photo of ruminrumin
    Member
    @rumin
    Join Date: 2005
    Post Count: 25

    Hi meilin08..,
    Would you mind breaking up the 3000 you got back…ie rental commision fees/repair quotes etc,please?
    I am situated in Tokyo and had a sale of a townhouse in Maroochydore in March 2005…plus 2IPs during that 1st july 2000 to 1st april 2005 window..my accountant has been looking into it but it would be very helpful to see what others have got..I will post mine next Tuesday :-)

    Profile photo of AUSPROPAUSPROP
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    @ausprop
    Join Date: 2003
    Post Count: 953

    isn’t it going to be an awful lot of hassle? I was just looking at what I could claim back… abit from the lawnmower guy, a bit from the PM, a bit from pest treatment co etc. I could see it being a huge battle with each company chasing it up and then at the end of the day whatever you get back you have to include as taxable income (or reversal of a deduction). I wonder if you could claim the costs of chasing all the money up?



    http://www.megapropertygroup.com

    INVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT

    Profile photo of meilin08meilin08
    Member
    @meilin08
    Join Date: 2005
    Post Count: 96

    Hi Rumin and Ausprop,

    Rumin, I will email you with a breakdown.

    Ausprop, it was no hassle at all – you don’t have to claim bits and pieces back from the different people/tradesmen. Everything your property manager has organised for you – they can reimburse you the GST that was charged – then the tax office reimburses them.

    Hope that helps.

    Mei

    Profile photo of AUSPROPAUSPROP
    Participant
    @ausprop
    Join Date: 2003
    Post Count: 953

    I see – I suppose it depends how hands on you have been i.e. how much the PM has paid for.

    with the add back of the GST into your return, do you have to do an amended return for each year, or would you just throw it in as income in the current year?



    http://www.megapropertygroup.com

    INVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT

Viewing 9 posts - 1 through 9 (of 9 total)

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