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Bringing Over Funds from UK home sale

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Newbie

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Replies 3

Hi there,

 

My sister and I have a property in the UK which we had rented out for 2017 and 2018 financial year and towards the end of 2018 we has this property sold. We are currently in the process of bringing over the funds from sale to Australia and as my sister and I are both resident for tax purposes, we wanted to know if there would be any tax implications of bringing over the fund?.

 

Thanks.

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Taxicorn

Replies 2

Bringing over the money, no.

You of course delcared all the rental income and Capital Gain/Loss on the sale of the property?

 

3 REPLIES 3

Most helpful response

Taxicorn

Replies 2

Bringing over the money, no.

You of course delcared all the rental income and Capital Gain/Loss on the sale of the property?

 

Newbie

Replies 1

Yes we have.

ATO Certified Response

Former Community Support

Replies 0

Hi @VeeBee,

 

Welcome to our Community.

 

As explained by @macfanboy there are no tax implications with bringing the funds to Australia.

 

You can find more information about income you must declare on our website, or if you have further questions you can phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak with a customer service representative.


I hope this helps, SueO