No capital gains tax in USA.
Hi Ruth,While I am not a qualified tax accountant, I believe that your comment above is incorrect. As far as I'm aware, capital gains tax on a property you've had in the US for more than 12 months is 15%. Any rent, expenses, tax paid in the US will then be recorded on your Australian tax return. I…[Read more]
WIcould you please let me know if you had help selecting the properties you boughtis there anyone you would recommendif the answer to this is somewhere else on this forum could you provide the linkthankyou in advance
Hi Saturday,I have a great contact for a buyer's agent in Atlanta and also a property manager. Contact me via my…[Read more]
I'm not sure what worldinvestor is referring to with the comment "You also need to ensure that the bank you use in US for purpose of chanelling rental funds has an affiliated bank account in Aust, otherwise you will not be complying with ATO and will be a problem." What specifically are you not complying with? I have an SMSF as…[Read more]
Thanks for the input re bank accounts. That’s something I’ll need to do more research on. I already have Wells Fargo accounts but will have to see whether they comply. I am using a tax accountant in the US who regularly deals with Aussie investors and have a phone meeting with her next week to discuss my questions.
Shawnfromsydney – I am using an…[Read more]