Thanks for your reply Terryw, the properties were effectively neutrally geared, so I am assuming the tax on income will be minimal.

Both properties are in my wife and my name, so would removing my name still equate to a CG? And as she isn't working at the moment (new baby), if the properties were in her name only when we bought the sale money over, I would have thought this would be more cost-effective, as she has no income other than the $$ from the property sale (in NZ).

And I will look to contact and Australian based tax advisor, do you have any suggestions?

Thanks again for your help.

Nathan.