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Discussion Starter · #1 ·
Hi, I am a subclass 190 holder, a PR in Australia. I dont stay currently in Australia and dont have a Tax File Number (TFN). The time i made my first entry, i bought a house and planning to rent it out. Finance is all done and planning for settlement next week. If i rent it out, the rental income will be just nice to offset monthly mortgage installment or i may need to top up a hundred or so.. Do i need a TFN and pay tax for this rental income? I have not stayed in Aus for a permanent basis yet and have never worked there yet.

Appreciate your advise on this.
 

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Hi, yes you need a TFN to pay tax on the rent income. But, tax can be minimized if are paying interest on your property. Also look for other ways that you can minimize tax, like any renovations, petrol use traveling to and from the property, rent insurance etc. you might actually be better off.
 

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Discussion Starter · #3 ·
Hi, yes you need a TFN to pay tax on the rent income. But, tax can be minimized if are paying interest on your property. Also look for other ways that you can minimize tax, like any renovations, petrol use traveling to and from the property, rent insurance etc. you might actually be better off.
Hi Davejochow, thanks for your reply. Is there qany information available online for this or i have engage a lawyer. Normally in Singapore things are quite simple and we can just submit everything online but i am not sure about Australia.
 
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