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_etan383(Newbie)Newbie
12 July 2021

Hi,

I have a question regarding investment property in Singapore.

An Australian Tax resident has an Investment Property in Singapore which he has declared the income in SIngapore tax return. From my findings, SIngapore has DTA with Australia and property is taxed at where property located, in this case Singapore.

Does he still need to declare the income in Australian Tax Return? Given that it is declared and tax in Singapore Tax Return?

Note, in Singapore , he doesnt has to pay tax with the rental income as he is a new parent with lots of incentives and earning below income threshold.

Thanks.

ET

2,091 views
1 replies
2,091 views
1 replies

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Most helpful replyATO Certified Response

JodieR_ATO(Community Support)Community Support
ATO Certified Response12 July 2021

Hi @etan383,

If he is an Australian resident for tax purposes he will need to declare his worldwide income. This includes foreign rental income and deductions. You mentioned he has not paid tax on the property overseas. If tax was already paid, he could declare this and claim a foreign income tax offset (FITO) on the return.

Please use the links for further assistance.

All the best.

All replies

Most helpful replyATO Certified Response

JodieR_ATO(Community Support)Community Support
ATO Certified Response12 July 2021

Hi @etan383,

If he is an Australian resident for tax purposes he will need to declare his worldwide income. This includes foreign rental income and deductions. You mentioned he has not paid tax on the property overseas. If tax was already paid, he could declare this and claim a foreign income tax offset (FITO) on the return.

Please use the links for further assistance.

All the best.

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