In Reply to: house rental and tax deductions posted by graeme on Thursday, 15. September 2011 at 13:38 Bali Time:
The best advice is SEE AN ACCOUNTANT.
there is a brief summary here: http://www.exfin.com/foreign-income-tax
If you rent it out you have to declare the rental income in your tax return, and get into the headache of exchange rates which depend on when you receive the rent or if it's in an account overseas.
You do get to deduct expenses, but not more than the income.
You will also have to pay capital gains tax when you sell it.