Forum Replies Created
Hi Amit
On this side of the Tasman Sea, I set up a family trust which owns the properties and within the trust we operate what is commonly called a LAQC. A LAQC is a Loss Attributing Qualifying Company. This allows us to claim immediate tax losses from our residential properties and put it against my normal income.The process seems to work pretty because I’ve been very pleased with the results over vthe last two years.
regards
Hi Beancounter and others
Mark Withers of Withiers Tsang & Co Limited, Chartered Accountants based in Auckland, NZ has published a book titled “Property Tax in New Zealand.”
To quote “It is designed to shed light on the key areas of the Income Tax Act as they apply in day to day life to property investors.Of course this book only applies to NZers but for Aussies investing in NZ there may be things to think about for you.
The book has only 108 pages and 24 chapters. It is a good read and I have found a few things to think about.Price last month was NZ$24.95. They do have a web site. http://www.ts.co.nz from which the book can be ordered.
regards
Hi Stuart
Well said. As an example from my team, my lawyer is in Auckland this weekend attending the annual conference of the NZ Property Investors Federation. He is also president of the Hawkes Bay PIF. This weekend he will be continuing to make contacts with other like minded people and improving his knowledge of property investors and thus will be able to help me make better informed decisions in my quest to build up my property portfolio.
For interested Australians in NZ we have a property investors organisation which has branches in most cities. An annual sub is paid(tax deductible) and most branches hold monthly or bimonthly meetings. Most also publish a magazine or newsletter.
Regards
Wecome to the forum HG
Here are a couple:
RE Real Estate agents.
PM Property Managers.
MB Mortgage BrokerOther readers will come up with more
Regards
Hey Min
No wonder you have rattled so many posts quickly you keep doubling up on your posts.
RegardsHi Min
Your’re on.
However there won’t be much snow on the mountain so leave your skis at home. Could take you trout fishing. There is a river on my doorstep.
School Xmas holidays start on about 20 Dec and the kids don’t start again until late Jan 2004.
email address is bobabraham11atnzoomail.com
How about that with your email address written this way computer crawlers cannot retrieve it.
That’s my hint for the day.Regards
Hi Calron
Have you tried the Search button at the top of the page?
Rent per week divided by 2 times 1000 should be the amount you need to pay for an investment property to be +cashflow.
Regards
Hi Sue
Try NZ. There appears to be many + cashflow properties in all cities and towns throughout the whole country.
I’ve just put an offer on a house in a Nth Island town which should give me about $2200per year pre tax + cashflow after expenses.
Regards
Hi Guys
Have been to golf today. Taumarunui has a very good course. Golf was b.. awful.Diamond
Yes there will be snow on Ruapehu. If interested I’ll guide you around. What level of skill do the boys have?
The web address is http://www.blackfernlodge.co.nz I think I can arrange blankets and a sleeping bag or two.Hey Min
When you are in NZ next, call in to say hullo.I might be able to twist your arm and get you to put on a gig for the children.Regards
Hi Guys
Yeah interest rates are up in NZ as well.
5 yr fixed are now up to 7.4%.
Luckily I got prior approval at 6.55% three weeks ago.Regards
Hi Crashy
A westie eh.Yeah, I went to Kelston Boys High about a million years ago.
Mini
Sorry about your chimney fire. My PM reminded me and then organized to get the chimney swept for a house we have in South Auckand. So hopefully we won’t have that problem.As an aside, an article appeared in the NZ Herald recently about putting in a purchase condition that suitable insurance can be had for the property you may want to be buying. It appears that after you have bought a property some insurance companies won’t insure your building because of where it is. eg in a mining area or an area prone to slipping etc.
Anyway something to think about.Regards
Hi Westan
No not fallen off Ruapehu but blown off.
Anyway I’ve been reading most of the posts that have been posted during the last few weeks.
Looking forward to the visit from you and Diamond.Roll on Crashy. Interesting re pa tae (can’t find the spelling checker) between you and Westan.
Am getting a feeling of doom and gloom pervading the posts. I hope it isn’t being driven by the press as Sooshie seems to suggest in an earlier post on another strand.
Anyawy I’m off to the Club for a beer and a chin wag. I’l clock in later tonight.Farewell
Hi Everybody
Hooray, I’ve found my password.
Dennis
In regards to Mini’s area of operations refer to the posts in the topic of NZ’s Suburbs which might give you more idea.Regards
Hi Guys
If anyone is interested Dolf De Roos is holding a 2 day Property Investors Course in Auckland on the 1 & 2 November. However there is one catch and that is there is a cost of $2895 per seat.
Bookings can be made through http://www.empowereducation.comRegards
Hi Junior
Thanks for the rap
I’m taking my class skiing today and so will reply more fully tonite when I’ve given your question more thought.Regards
Hi D
I’ve already emailed Westan with my ph # etc.
There are 3 of us. Wifie, me and 8yr daughter. Also have family in Auckland and Napier. Six extras might be interesting for the night. We could still meet at my house for the day anyway, have a meal and have access to computer and the internet.Regards Bob
ps I missed out the letter T from my previous post.
Hi Diamond
My movements during that time will be dictated by your movements. Are you hiring a rental car? If you are we are only 250kms or 3hrs from Auckland if you want to spend the night with me? We should have enough space. If you do I will email instructions to you.
We didn’t buy a house yesterday but we looked through six which we had already short listed. First offer goes in tonite.
I will fill you in about the towns starting with when I see you.
Regards
BobHi Guys
No town/village in NZ has completely disappeared unless it was a village specially built for a hydro station. One or two of these towns have completely disappeared except for the sealed roads.
I hear tell that the NZ Ladies netball team won the World Cup by beating the Australian team.Australian investors are generally buying up anywhere in the country where they think they can get a bargain or the yield looks very good.
Regards
Hi Guys
Please remember that more people live in Sydney than in the whole of NZ. Would that account for NZ being 10 yrs behind?Curtly
Every town and city have empty shops.
I know the percentage is higher in small towns especially after the Warehouse moves in.Regards
All Blacks by 15pts?Hi Guys
Thought I would add my two pennies worth.
Had five.Four in Napier and one in South Auckland. Sold one of the Napier ones last month which was our first IP and had had for 22 months but hoping to buy a couple in the next few days. The one sold was negatively geared but made 28% capital growth for us. The others are all +cash flow.Nice tax refund though.Regards
