Mini,

Great post, you really are our Kiwi expert.[]

Luanne, my understanding is that you pay tax in NZ on the earnings there, then also declare the earnings in Australia, but with an overseas tax credit for the tax already paid in NZ.So you aren’t actually taxed twice. I think you could negatively gear against other NZ income, but not against Australian income. But as most of the IPs being discussed are positive anyway it shouldn’t be an issue.
Note: I’m not an accountant, you would need to talk to one.

Rod.

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 the stress and confusion.

Rod.

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

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.

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, my view (and that’s all it is) is that some areas and sectors will certainly crash. But most areas will just see a slow down, with a slight retreat from the peak and then a flattening for 2-3 years. When will this happen – no idea! It’s possible that it’s already occurring in some sectors, but others may keep growing for another couple of years.

Be careful out there.[]

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 ones!

My interests are family, property and old aeroplanes (I need more IPs to pay for the planes!).

Rod.

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

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

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.

Hi all,

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

Rod.