I agree with Richmond,

I think Melb and Syd will certainly slow (they probably have already). Some sectors (the inner city hig rise apartments) will certainly drop. QLD still seems to have a bit left in it but a change of sentiment (which seems to be what the general media is pushing) will probably see that slow as well. The regional areas will…[Read more]

quote:Such borrowers have lent 70% LVR, but I know of people who have secured 80% LVR. It all depends on the risk profile of the applicant.

Hi Steve, do we take it from this that the lenders didn’t like your risk profile and would only give you 70%?

regards,

Rod.

Mel’s correct.

If you just renovate straight away anything which you discard has no “claimable” value. If you have had a depreciation schedule done then you can “write off” the value of the item which you are replacing.

Rod.

No Joff, I don’t think you’ve done anything wrong.

That is 13.52% yield.

Rod.

I’m comparing rentmaster and property manager pro at the moment. Both seen very good, personally at the moment I’m leaning towards purchasing rentmaster.

rentmaster (trial) can be downloaded from http://www.rentmaster.co.nz and property manager pro can be downloaded from http://www.apimagazine.com.au/pages/magazine/software.html

Both these trial…[Read more]

hi Raymondo,

I haven’t done this some I’m only guessing. I’m also assuming the NZ IP is owned in your own name as company/trust ownership would complicate the answer.

I would think that as the property is +ve you would pay tax on the income in NZ. You would then declare this income in Australia and receive a tax credit for the tax already paid…[Read more]

quote:If the trust makes income who will receive the distribution, if not distributed the trust is normally taxed at high marginal rates (this is the case in Aust & we tend to be in line with NZ )

In NZ income accumulated and retained in the trust is taxed at 33%.

quote:Your final problem is when you bring it home it might be subject to 48.50%…

[Read more]

Hi guys,

As long as the funds are retained in the NZ trust you should have access to the NZ benefits that melbear has mentioned. When the money is ddistributed to non NZ residents that’s when it gets trickier.

The 2 main operational choices (as I understand them) with the NZ trust are:

1. The trust retains all income (no distribution) to…[Read more]

Anto,

This subject has been broached a few times, do a search on NZ.

Also it has been discussed quite a bit on the forums at http://www.propertalk.co.nz there’s also a few articles on trusts at that site from NZ lawyers.

The short answer however is that it’s relatively straight forward. Beneficiary income will be taxed in NZ. This income will have to…[Read more]

westan,

you must have upset him with all the Santa references.
[]

Rod.

I’ve been wondering the same thing.

It’s certainly been a “long time no see” for AD and the B.

Rod.

Hi sue,

the LIM isn’t as complete as a Section 32. The LIM only contains information that the council has on file. A Section 32 is put together by the vendor (or their solicitor) and should contain everything relevant to the property (body corporate info etc.).

I’ve got a couple of different LIMs here (as PDFs) let me know if you’d like to have…[Read more]

Better ask westan. That’s his part of the world.

Maybe the vendors in Birchip have seen all the sales in Nhill and want a piece of the action. (Sorry Leigh [])

Rod.

Hi Sooshie & Sue,

Yes Warranwood is near Warrandyte, we’re between South Warrandyte (hence the “Warran”) and North Ringwood (hence the “wood”)

Paddocks and bush to the north, ‘burbs to the south.

Rod.

Hi SIS

Check out http://whirlpool.net.au

they’ve got comparisons of different isp’s and also forums with plenty of opinions.

Rod.

Mel,

You misunderstood me. I agree that if I was purchasing a property with an already completed reno, then I would just get a QS to check it out. I wouldn’t bother with the vendor’s receipts either. The QS will probably want to know the date of the renovation.

My comment was actually related to Simon’s post which I took as implying you were…[Read more]

quote:Sometimes if you do the reno it is better to get a QS in than use the receipts – the reason is receipts don’t show your labour component whereas their estimate for the value of the new kitchen wil include that.

I’d check this with an accountant and QS, I think that if there are receipts then that is what should be used. I’m not sure that…[Read more]

Warranwood, VIC. Suburb about 30K East of the CBD.

I agree entirely. I’ve had no trouble getting RE agents to supply info. But I do find the printouts from QV online interesting.

I’ve got one here that shows a property that was sold for
$42K in 1987
$48K in 1992
$36K in 1996.

It’s currently listed at $69K, rating valuation is $55K.

Rod.

Hi David,

They’re available at https://www.quotable.co.nz/default.aspx

You’ll need to register, a sales history costs $3.95NZD. It’s not available for every property though.

You can also find out rating valuations, title details etc.

regards,

Rod.