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I am very disillusioned with PM Krudd, but the thought of an alternate pm whose opinions (and hence policies) are heavily influenced by the dictates of the Catholic church (I don't care what anyone believes but I don't want someone elses religious beliefs to dictate how I live my life), and who wouldn't give a second thought to bringing in a version of Work Choices (if you think that I and my colleagues will be prepared/forced to work evenings, weekends, and nights for the exact same rate as someone working Mondays to Fridays 9 to 5 and have many of the benefits hard fought for over the years taken away from us you must be joking ) is extremely unappealing to me. I actually had a lot of respect for the former Liberal government, even more so with hindsight, but like a significant proportion of the population Work Choices was a deciding factor for me and would be again in the future. Anyone remember how the GST was dead and buried and would never be reconsidered by a Liberal government?
Wealth gives you the opportunity to work because you want to, not because you have to. I recently turned 50 and assumed I'd keep working as a nurse, by choice, till I was 65. However recent changes in the area I work in now have me wishing I could quit tomorrow! Sadly my current financial position doesn't allow this (how I wish I'd increased my number of IP's over the last couple of years) and I see myself still working till 55 when positive CF from my IP's and my super (God bless the CSS!) will make this possible. The point being that financial independance means you are no longer at the mercy of the whims of your employer.
star. wrote:I was renting for the first time in my life post GFC n the Southwest of WA , I paid top $ I , I ignored peoples advice to not rent through Ray White, and after twelve months of maintenance promises unkept and untold text msg about overdue rent (their bad bookkeeping) I decided to move out and buy another house, the rent market has a grapevine and I would stay away from using Ray White just like everybody warned me, stay away from unpopular agents., I now I tell anybody that will listen not to rent through Ray White Bunbury.
In 3 weeks I will be taking possession of a duplex I wont use Ray White as an agent . but I will be listening to what other people around Bunbury say.
For the first time last year I was a renter not an owner and the way Ray White Bunbury treated me, they sure as hell wont be my agent ever.Ray White manage the complex I live in (owner-occupier) here in Canberra and I regard then as absolutely hopeless in regards to the upkeep of the property. If it were solely up to me I'd have the property manager changed tomorrow. Sadly the majority of the apartments are owned by investors who couldn't care less about the state of the complex as long as they get their rent on time.
Hi Wendy.
Many thanks for the very useful info.
Cheers,
Paul
Matt007 wrote:Check out any reciprocal/double tax arrangements that may exist between NZ and AUS. Also check out the company requirements (as in who can set one up, what structure is useful there eg: company and trust etc), see what requirements their financiers have or if ours will finance there.I think there are a few other threads on here about it. Do some searching… you'll find out what you need to know..
I checked the threads before asking my question as I couldn't find the answers I was looking for. What I would like to know is:
*assuming I will have to declare any NZ rental income on my Australian tax return, can I also negative gear any interest I pay on the loan and/or claim for any depreciation and repairs/maintenance?
* If I can negative gear interest payments on NZ properties, is that on loans from both Australian and NZ banks or only that portion from Australian banks?
*do I have to pay any tax to the NZ government on rental income from any NZ investment properties?
If anyone can either help me with my inquiries or can direct me to specific threads answering my questions, as my own search has proved fruitless, I will be very appreciative.
Cheers
I also attended the event and was very impressed with the organising, the quality of the information provided, and the caliber of the presenters. Like what I assume would be the majority of participants I left very inspired. Sadly a positive attitude alone won't change reality here in the A.C.T. A few phone calls today to real-estate agents and builders reinforced my concerns regarding the current property investing climate here. One builder told me of one investor who had been purchasing renos over the last few years, getting them improved, and then selling them for a nice profit within 2 months after receiving 8 or 9 offers. Today he'll receive 1 or 2 offers and the buyers are very fussy about the price. Regarding demolishing an existing residence and building a couple of townhouses, etc., by the time you've added the costs of the price of the land, demolishing the old dwelling and buying the new one, the interest accrued over what I was told can be up to 9 months or more from go-to-whoa, with the current downturn in the market you'll be lucky to not make a loss let alone make a modest profit! How different to just a few years ago. Regarding interest, even Steve wasn't confident that we are going to see a decrease in rates any time soon regardless of what the Reserve Bank does with its official rates, with the potential for banks to continue to increase rates a real possibility.
I'm not saying that it can't be done and I'll certainly be keeping an eye out for opportunities, I just think that at least in Canberra opportunities are going to be fewer and further between than they have been regardless of how much positive thinking you use.
I'll be only too happy to be proved wrong.
Paul
