A work opportunity is approaching that would involve a move to NZ for at least 5 years.
I have been there before and may decide to stay there permanently this time.My Australian PPOR is owned outright and I have IPs that generate decent passive income. I wish to hold my PPOR which has already seen significant capital growth, til around 2010 when I believe prices will be moving up again. I would rent it out until the ideal selling time.
I am considering the virtues of investing (via a trust) in a suitable property in NZ, using A$ and my PPOR as security, and then moving over to rent the same property.
Would this offer the benefit of -ve gearing (loan) reducing my taxable income in an inverse relationship to the amount of rent I (in effect) pay myself, for what may ultimately become my PPOR.
Is this legal?
zed
You need to seek advice in New Zealand through a fgood property accountant. I have contacts in Australia and New Zealand who should be able to help you.
I find in moist cases you are better to keep what you are doing separate. If you are going to work in NZ set up the structures there. The only way to get money is to borrow it in New Zealand. As mentioned I am not an accountant so you are better to seekthe advice there.
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
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