Thanks guys, really appreciate the tips – doing my taxes this year won’t be as complicated as I first thought!!

Can anyone advise on the Aussie end of things? My username has been a misnomer for the last three months, which means I don’t have to lodge my first NZ tax return for another nine months, but I’ve caught the last three months of the Aussie tax year.
Can anyone suggest a Sydney accountant who is cluey about NZ property investing and taxes?
thanks!

Can anyone advise on the Aussie end of things? My username has been a misnomer for the last three months, which means I don’t have to lodge my first NZ tax return for another nine months, but I’ve caught the last three months of the Aussie tax year.
Can anyone suggest a Sydney accountant who is cluey about NZ property investing and taxes?
thanks!

Thanks Kay! It’s true that rent money may be dead money, but massive interest repayments that leave you with nothing are pretty stone cold dead anyway! (particularly if the market is about to plateau or drop)

How’s this – we pay $320 a week for a 40-year-old two-bedroom apartment on Sydney’s north shore (nowhere near the beaches). If we were to buy a property, the repayments would be double that and we wouldn’t even be able to afford a place like the one we’re in (guessing it’s worth close to $500,000).
We could possibly just manage such repayments but…[Read more]

What I would like to know is why anyone pays for PMs if they are not capable of dealing with situations like this? I plan to invest overseas and if I had to take tenants over there to court without active assistance from the PM (ideally to stop the situation from occurring in the first place) I would be very unimpressed (and in major difficulty).…[Read more]

If you find out this sort of thing before the deal is done, can you request vacant possession if there is a lease still to run?

fnash, I don’t know how long you’ve been in oz, but as a Kiwi, the first thing you need to do before buying back home is to ensure your tax status with inland revenue is “non-resident” (presuming you have no NZ income still coming in), otherwise I understand they could potentially count your aus income when assessing what tax you have to pay on…[Read more]

Oops, I think I’m lost – seem to have stumbled into a liberal party forum. []

If you point out what the current market rate is and don’t even raise it to that level, even though they might be disappointed at a rise of $50 or whatever, if they look around they’ll see they’re still getting a fabulous deal and they’d be crazy to leave, even with the rent rise.
I just wish your sister was MY landlord

sounds like they’d be better to hang onto the property and use the equity to purchase more IPs! (and buy the next IPs in NZ so they don’t have to worry about CGT!)

A mortgage broker friend in NZ tells me that HSBC is the only lender there that will loan overseas investors 90% to invest in property. There’s just one catch – you have to be a Kiwi. Knew there eventually had to be an upside to my heritage []
I don’t know what the interest rate is like, but for all you NZers out there, it’s worth checking out!…[Read more]

Hi Mini, details would be great, thanks.
Where in NZ are these deals? Any in Rotovegas (Rotorua)? I’ll have to suss things out when I go home for Christmas…

thanks
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Melissa

thanks Mel, that makes sense. Didn’t think of it that way since I’d never be without my trusty calculator!

LLTB

Since we’re kinda on the topic of the 11 second solution, I’d like to raise a question that’s been bugging me ever since I read Steve’s book…
At the risk of this being a really dumb question…
Why is the rule to divide the weekly rent by two and then multiply by 1000? Why not just multiply the rent by 500? I always get the same answer both…[Read more]