Hi Jamestk,

I own property in an Aussie family trust in NZ. When I sell, my accountant advises that the capital gains will be taxed back here in Australia. Whether you bring the money home or not is irrelevant in this structure as you have ‘earned’ it and so the ATO sticks its hand out….

CD

CastleDreamer

You Rogue Aussierogue!!!!!!

It would be great if wood ducks were out there more often me thinks!!

CD

CastleDreamer

Plenty of hot air going around guys – could be that!!

But we have monopolised Monopoly’s serious thread with our humour….. tsk tsk

It is true that NZ is much better known for earthquakes than we are here, some areas more so than others. I guess a check with the insurers and the local council webpages and disaster planning pages helps get a…[Read more]

I’m with you Westan, I think we should immediately start looking for the fault lines that would give us coastal views when the bits fall off – do you think that some well placed charges could speed things up a little!?!?

Seriously, have a look at Canberra and the bushfires, Brisbane and the 1974 flood, Newcastle and its floods and earthquakes,…[Read more]

Well done Westan!!!!

CastleDreamer

Work for the Ambulance, we get there first!!

CastleDreamer

Everybody take a breath guys, its up to each of us to decide what we think about God or otherwise. I have read the thread through and you all say things that could potentially sting each other’s feelings. If Mark wants to sign his thread as he does that’s great, if he wants to wish me the six lotto numbers instead, that is also his choice.…[Read more]

OK, for all of us late readers, what was the information???

CastleDreamer

Westan, you fibbed, I really did eat just one junior burger!!

Matt, I had the best fun, negotiating deals, and the best part was walking away when the price wasn’t right – I felt empowered, that I had been able to leave emotion out of the equation, and analytically play the game. Very satisfying and rewarding.

Have next trip booked for June.…[Read more]

Hey Pursefattener.
As all buildings can be depreciated, the age of the property isn’t so important over there.
I use valuit.co.nz. for about 350? approx they pretty well guarantee to get more than that in deductions per annum.. I have a schedule due in the mail shortly that I can refer to and continue this thread if you want. Let me…[Read more]

[drummer][strum][guitar][headphone]

Hey Mini,
I am so pleased to have read your posts through the forum, and to have shared ideas and gossip with you over the months.

Congratulations on the number of valuable and well thought out posts you have contributed to the forum here.

Steve has it going “Maxi”!!! (big dreams, no…[Read more]

Hey pursefattener (cool name!!)

Depreciation write offs are at a better rate than here in Oz for NZ – on the contract going unconditional I have organised a Chattels Depreciation Schedule (Valuit.co.nz are one firm that will do this for you). It is dated from the date of settlement. I like to get it sorted out ahead of time so that I can get on…[Read more]

Yack,
ask the other owner to paint yours while he is there.. at least if he stuffs it up, you will be in company!!!
Seriously, if he can paint though …
CD

CastleDreamer

Some banks apply that thinking, eg ANZ will require a 30% deposit in Tokoroa, and some areas of Wanganui – yet when you go there, they look nothing like the skanky areas I have come accross in Australia, but it is different in NZ, and the banks are obviously risk averse – especially with O/S investors.

Does anyone out there have the list of towns…[Read more]

Will depend on the lender, your lending strength, and similar.

Generally, some banks have a list of areas where they have tighter lending criteria such as a 30% deposit and restrictions on the loan for the first couple of years (ANZ is an example of this).

A good broker should be able to help you through the maze of NZ lending
Cheers
CD

CastleDreamer

Hi there,

I recently purchased a block of flats (that sounds impressive!! – but really only three little flats!!!). The building inspection revealed a few things wrong with the property. I agreed to go unconditional on the building inspection clause if the vendor reduced the price by $2500.oo to cover some of the defects found in the report.

I…[Read more]

Quote from ATO website:
“Lodging your tax return after 31 October 2003

A failure to lodge on time penalty can apply when returns are lodged late. You could reduce the size of any penalty due by lodging your return sooner rather than later.”

This is reference last year, but you can see the date is end of october – perhaps an accountant can get…[Read more]

Don’t know where I heard the October figure – is that for private lodging???? But if I can leave it until April 30 then girl I am there – will consult my accountant. Cheers for that little bit of choice info!!!!!

CD

CastleDreamer

Hi guys,

I have Aus Westpac account and transfer to NZ westpac account. Money has been there in as little as twelve hours as goes direct from here to Wellington Westpac and then onto branch. difficulty with Westpac here is they have just capped the TT amount by internet to $5K so now have to go to branch to transfer more than that – unless you…[Read more]

Only way to defer CGT as I see it is to do your tax return and hand it in on October 30th – get the full three months extra use of the money!!!!! Honestly – our government really does like to tax and hit the good old humble property investor don’t they – CGT, new stamp duties in NSW. Makes you wonder why we invest in Oz, take money O/S instead.…[Read more]