If you are living in Ireland and have a property rented out in Australia, chances are you have to declare this income in an Irish tax return, as well as an Australian tax return.
Irish citizens that are resident in Ireland for tax purposes, are required to declare and pay tax on your worldwide income. This includes any rental income earned on an Australian investment property. Non-Irish citizens may not have to declare their worldwide income, but should get professional advice to confirm.
Under the rules of the tax treaty between Ireland & Australia, tax paid in Australia on this rental income can be used to reduce any tax that you subsequently have to pay in Ireland on the same income.
The ATO and the Irish Revenue Commissioners have been actively data matching & sharing information since 1 May 2017. Don’t wait to get caught out – we can help with your Irish and Australian tax returns. Please email us directly at email@example.com for more information.