Anna,

It’s sounds like you’re on the right track.
Just make sure that you take the time and effort to find a good tenantable property for the right price and you should be fine. In other words, do your research and make sure the numbers work out.

You may need to narrow your search down a bit to property type and region in order to save some of…[Read more]

You don’t get taxed twice.
If you’ve held the investment >12 months then the CG is discounted by 50%. This amount is then added to your other earnings to determine your taxable income.

So, If you had a $20K CG and $30K in other earnings your new taxable income would be $40K.

Rod.

Sooshie you cynic!
I think you’re probably right though.

Rod.

Great comments everyone – keep ’em coming.

Westan, thanks for the airfares tips, I haven’t booked yet but am aiming for late September.

Rod.

Mine’s with Bank of Melbourne (Westpac) all organised via a Mortgage Broker. No problems so far, this is on the professional package ($300 per year) which gives an interest rate discount and no other application fees.

Rod.

Same method here,

Can get confusing though, I think I’ve got more IP loan accounts than IPs.

Rod.

I think it’s a bit simplistic just to blame property investors for the boom. But it’s not unusual for the mass media to take a simplistic approach. There are many different factors which have contributed to the boom: fhog, low interest rates, poor stock market returns, easier finance (rams, aussie, wizard etc).
As to whether there will be a bust,…[Read more]

Hi Mini,

I’d also be interested in you thoughts on those areas. Also do you have any recommendations for accountants in that area. I’m also tentatively planning a trip for Sept, but would like to get as much as possible set up before hand (investment structure etc.).

Rod.

G’day my name’s Rod, I’m 39 married to Kate for 16 years with 2 kids, Thomas (10) and Emma (5). I’m a telco technician based in Melbourne CBD. We own our PPOR in the outer Eastern suburbs and have 4 IPs (2 Melb, 2 QLD) – first one puchased in 2001. These are all basically neutral (after tax) but have had good CG. Now I want some real positive…[Read more]

More questions

quote:Or you could use the LOC cash as the deposit to buy properties in NZ but then best to use a NZ banker.

If you do this which country do you claim the LOC interest in Oz or NZ?

I have a disc. trust here in Oz (with a corporate trustee). Can I use this entity to purchase in NZ or do I need to establish a trust or company…[Read more]

I used Deppro http://www.deppro.com for 2 properties I have in QLD. They charged $440 per property and were very prompt and professional. They are nationwide. I used a different QS last year for 2 Melb properties who charged $400 but the Deppro reports were better.

Rod

You should be able to get it done for about $440, I’ve found it to be worthwhile even on older properties.

Rod.

I just found the KPI link
http://www.propertyinvestor.co.nz for anyone thats interested.

Rod,

Thanks for the info averyone, this threads really got me thinking.

Westan, Did you purchase using your Australian Company/Trust or did you need to set up a structure in NZ?

Mini, Do you have a link or address for KPI magazine?

thanks,

Rod.

Mini,

Did you inspect your properties prior to purchase or buy sight unseen?

I’m gessing it was easy for you to open a NZ bank account, being a kiwi. Has anyone who’s not from NZ done it – what are the logistics?
Also has anyone set up a NZ company or trust structure?

thanks,

Rod.

There’s a “window” between 1985 and 1987 where the depreciation rate for normal rental properties is 4% over 25 years. Whereas those built after 1987 are 2.5% over 40 years. You are correct though in that holiday and tourism accomodation is all at 4%.
In answer to the original question the depreciation will 4% of 100k for the next 8 or 9 years.…[Read more]

Hi all,

I’ve just been looking at the ninemsn forum and it looks as if this meeting has been cancelled/postponed.

Rod.

Thanks for the details, hopefully I’ll get there.

Rod.

I’d be interested if anyone wants to get together for something “unstructured”.

Rod.

As the full depreciation is claimed at the marginal rate whereas you only pay CGT on 50% of the gain you’re probably ahead by claiming depreciation.

Rod.