Hi all,
DISCLAIMER: I will be seeking professional advice however I’d like to ask my silly question here first
also I have listened to Mike and Steve’s CD on investing in NZ.I’m seriously looking at investing in NZ especially since I grew up there and my wife and I plan to return there eventually, however I’m as confused as muck when it comes to tax and what I can claim as a non-NZ resident.
My strategy (and eventually my question) is:
Purchase property in regional NZ places like South Wairapa, Palmerston North, Timaru, Wanganui, that is affordable and will attract a good tenure at a reasonable price with respectable CG over 10+ period. I expect that this will mean that the property is CF –ve requiring tax deductions to become CF +ve.Question – does anyone know what can I claim as non-NZ resident from the IRD (NZ equivalent of the ATO)?
Thanks in advance,
JohnnyManicSquash,
Sorry, I know nothing of NZ laws but would like to point out that if the interest on the property exceeds the net of rent and other costs the difference is deductible in Aust. This has only been in for a few years before then it was quarantined.[email protected]
http://www.bantacs.com.auIf you can’t BAN TACS at least minimise it legally
Originally posted by Julia:if the interest on the property exceeds the net of rent and other costs the difference is deductible in Aust. This has only been in for a few years before then it was quarantined.
That’s good to hear [
].Do you know if it matters whether the loan is from an Australian lender or a NZ lender?
And I read something about the ATO taking witholding tax from interest payments to NZ lenders. Have you heard of that?
GP
also I have listened to Mike and Steve’s CD on investing in NZ.
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