Forum Replies Created
Dean,
This looks really interesting at first glance – I will look more closely soon. I am going over to NZ to look for property in July. Any chance we could have a chat to help me with my focus?
PT
Today is a new day. You will get out of it just what you put into it.
Hey Dazzling, who made you the keeper of the forum? Everyone needs to start somewhere. No one asked you to waste your precious time responding or indeed reading the contribution.So what if someone puts something on that doesn’t suit you, no need to carry on like a child. Go on making your money, perhaps sometime you will learn a little generosity along the way.
PT
Today is a new day. You will get out of it just what you put into it.
It’s not the first few years that cost you, it’s when they get to high school, particularly if you send them to a private school.
Budgeting is importanct but as the others have said, having children is not about the cost it is far more about the enjoyment. Your life will never been the same.
Go forth and multiply!! (The practice is fun too!!)
PT
Today is a new day. You will get out of it just what you put into it.
Thanks Terry.
One last question. Is 20% a rough rule of thumb? It certainly means the compound interest on the initial purchase price is <1% if viewed over a 25 year period, which seems very low.
PT
Today is a new day. You will get out of it just what you put into it.
Thanks for the feedback.
I suppose what I was trying to say was, how do you determine the price to sell the wrap property at to the wrapee, having just purchased it.
For example:
Purchase porperty at $100k
Sale price for wrap deal $100k x X%Given these deals are a 25year mortgage, what is a reasonable % gain to expect on the original cost?
Hope that is clearer and someone can provide some insight for me.
PT
Today is a new day. You will get out of it just what you put into it.
Hi,
I’m quite interested in the NZ market, but as you say, it needs a lot of research to make sure any deal makes sense.
saotaylor
Today is a new day. You will get out of it what you put into it.
Hi, my first time on the forum, but hope this helps.
CGT is payable at your full marginal rate if property or other assets sold for profit within 12 months. It is 50% of that if sold after 12 months – a significant saving!
To calculate your CGT, you deduct from your sale price the actual cost of the property, legal and stamp duty and any other costs associated with its purchase and sale plus any capital costs from the renovation. What’s left is your CG which will be subject to tax at either the full CGT rate (if sold within 12 months) or CGT rate less 50% if sold after 12 months.
Salary is only relevent as a determinate of your marginal tax rate.
Hope this is relatively clear. Good luck!Peter Taylor
