How much tax will i have to pay on rental income from an investment property if I'm a non-resident?

Q. I am a Malaysian and non-resident of Australia. My wife and I have bought an apartment in Sydney for investment purposes.

It is currently generating a net annual rental income of about $18,000. Do we have to pay taxes under Australian laws, and if so, are we entitled to the tax deductions mentioned in your article?

 

A. As the income will be earned in Australia tax is payable on the net rental income produced by the apartment.

You will get the benefit of the tax deductions I mentioned in the article including interest, rates, agent's fees, insurance and depreciation.

As a non-resident you will pay tax at 29 per cent on net rental income up to $35,000 and then 30 per cent on income up to $80,000.