That, I believe, is correct. However the value of the property will be considered as part of your wealth.
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I had rental income on half of an AU apartment I inherited with my sister, and had to pay tax on it, and I did note in the return that tax on that was paid in Australia. The pain is the butt is the staggered financial years.
What is the financial year for Australia?
1 July to 30 June
What do you mean " staggered financial years"?
Switzerland fiscal year : Jan 1 > Dec 31
Australia fiscal year : Jul 1 > Jun 30
Better than the very logical:
6 April - 5 April
For the UK!
It makes me think of Easter. Wondering if god cares about taxes.