If you own a property in Australia that is rented out, you are required to submit an Australian tax return to declare any profit or loss.
If the property is profitable under Australian tax law, the tax must be paid in Australia. Depending on your personal circumstances, you may also have to declare this rental income in Ireland. Under the terms of the Australia / Ireland tax treaty, any tax paid in Australia in respect of this rental income, can be claimed as a credit in your Irish tax return. (Subject to conditions). This prevent the income being taxed twice.
You may also be required to declare Australian rental income in your annual Irish tax return. We can co-ordinate your Irish tax returns to ensure the best possible outcome in both jurisdictions. Please email firstname.lastname@example.org for more information.
Let us help you remain tax compliant in Australia & Ireland. Fees for preparing Australian tax returns for non-resident landlords start at €250