Does anyone know the risk of getting double taxed when purchasing through an NZ company?
My understanding is profit from property investments could be distributed to Australian shareholders via a (fully franked?) dividend but does the Australian government give a tax credit for the tax already paid to NZ by the company???Thanks
Good question –
I understand that if the property was held in personal names in NZ – then tax credits apply, so I would see no reason why it wouldnt apply for an LAQC entity.
Would like to know for sure when you find out.
Scorpio.
If you’re talking about having your own private company in NZ, rather than investing in a commercial property company, then you need to be aware of the Controlled Foreign Company (CFC) provisions.
http://www.ato.gov.au/individuals/content.asp?doc=/content/43914.htm
I’d suggest you see an Australian accountant or lawyer familiar with foreign investment.
GP
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