The budget was lacklustre. A budget by politicians bereft of vision, with micro 'cajones" and indebted to greedy, avaricious mining companies, bank and major corporations. The current government has nothing to offer and the opposition are little better.Democracy has sunk to its lowest ebb. Representing the people is open to everyone, just like the…[Read more]
Not sure on 50%, CGT is not my specialty (I hate it! Aussie is first country I have lived in with CGT).
Probably best to invest via a NZ legal entity(?), so that any gains via sales can potentially be reinvested in more properties without triggering a tax event, but not sure? Maybe Aussies with IPs in NZ can comment?
To me financial freedom is simply about choices. You can choose what to do and when, go where you want, when you want. Drive the car you want (or bicycle!). Choose who to spend your time with etc.
What you do with those choices, whether you make wise choices, is up to you. But financial freedom gives you those choices, financial servitude does…[Read more]
If you find a cashflow +ve IP great. Just ask yourself – will it still be +ve if interest rates increase by 1-2% and rentals don’t increase (assuming you haven’t locked in a fixed interest rate)?
If not, can you carry the -ve cashflow from other income streams? Understanding that there might be little capital growth in the short-term.
Muppet is spot on. No land tax in NZ, no stamp duty, no CGT (altho Aussie tax residents will pay CGT). Local Council Rates are charged as per Australia.
My name is Conor McCloud and I was born in the highlands of Scotland in the year 1532. Oh sorry! My real name is Christopher Lambert, I just look like I was born in 1532.
Go Highlanders!
Cheers[]
PS. My real age is in the date, its an anagram, or is it a simile, or perhaps an aneurism? First one to guess my correct age will be ignored!
I suggest very few people would object to paying a reasonable percentage of their income as tax to fund necessary services and assist those who are genuinely unable to fend for themselves.
The keywords are ‘reasonable’ and ‘genuinely’. Most people do object to paying an unreasonable percentage of their income as tax and to funding unnecessary…[Read more]