Any takers?

Shar

Hi Xenia

I also had a lot of trouble getting info on the best way to buy ppties in NZ.

I have now bought them in a NZ Family Trust, however, you have to be careful that you don’t control the TRust or the ATO will consider it as being an Australian Trust and therefore need to put in a tax return for the Trust in Aust. What I have done is set up…[Read more]

I believe anyone can go to their meetings. If you look up their web site theinvestorsclub.com.au they should have the meeting dates as they are held all over Sydney.

I went to one of their meetings a couple of years ago and were quite interesting. By what I have read about them, if you are too hesitant to get into property investing on your own…[Read more]

For any of you Forumites from Sydney who frequent the Propertytalk.co.nz website, Marc from PT says he is coming to Sydney in May and is interested to meet at a pub one evening. Could be interesting for a chat.

Shar

Hi Andrew

I really couldn’t say how long it took as actually bought 2 properties while in the process of setting up (which were bought in the Trust name). Also wasted alot of time to-ing & fro-ing with emails to solicitor and accountant in NZ, speaking to Sydney accountants and ATO trying to work out if it was the correct way to go. Probably…[Read more]

Hi Aptam

My costs were as follows:

All NZ $ plus GST

Setup Trust $850
Setup company $600
Transfer property to trust $600 each
Ongoing administration costs approx $500p.a.

Shar

Have recently set up a Family Trust in NZ to buy properties. However, the ATO says if you have control of the trust then it is deemed to be an Australian Trust and will need to have tax returns done here as well as in NZ. (I think this is to stop Australians hiding income in overseas Trusts).

To overcome this, we have setup a NZ Corporate…[Read more]

Foundation, you just gave me a huge laugh – and I’m a Kiwi! I daren’t ask you to elaborate!

Nobleone – possibly the problem you have with tradies at present is because of the housing boom in NZ – builders and all others tradies are flat out with work. Things should improve as the housing boom slows down and then I think you will find the NZ…[Read more]

Thanks Yack

I’m hoping to go there in mid-June but am trying to get as much info as possible before then.

Shar

Oh, and I forgot to mention the FRESH CREAM cakes!

Fat Shar

I have to say that last time I was in NZ I was a little disappointed with some of the fish shops. Not as good as they used to be. However, I did manage to find some battered oysters – now there is a taste sensation!

And the ice creams are as huge as ever!

Shar

Hi Robot

I’m originally from Taranaki and when I was over there late last year I looked around New Plymouth but the prices had risen too much for a decent rent return. I had thought I might get something in Inglewood as I remember property being pretty cheap there but the prices had already risen too much.

Sadly I looked at Hawera but there was…[Read more]

Thanks Dazzling for starting this wonderful topic! I’m another one with the same problem of an uninterested partner and I’m truly amazed at how many others share this problem.

Out of all the wonderful information I have obtained from the Forum, this topic has been the one that has inspired me the most!

And the best reply for me was the one from…[Read more]

I have seen it at our local newsagent in Baulkham Hills, Sydney. However, I subscribe to it and find it invaluable for the information and statistics and thoroughly recommend it if you are thinking of investing in NZ.

Shar

Hi Kiwi Fulla

Have you checked the KPI magazine. They have heaps of interesting statistics every month.

Shar

Hi Sara

We were also seen as “maxed out” by banks here in Oz.

Wanted to start investing in NZ so applied to ANZ in NZ and got knocked back. Also applied to Premier Mortgages over there but were also knocked back.

Then tried Mortgage Link in Taranaki. They got approval from ASB there for us to buy 2 properties and then only didn’t approve the…[Read more]

Slightly off track, but what about wetas and hoohoo bugs!

The first time my English husband saw a weta in the house he had to change his undies!

Weta – extra large, brown insect looking abit like a grass hopper but also looks extremely scarey.

Hoohoo bugs (don’t know spelling) or called hardbacks. Large moth like creature with hard wings like…[Read more]

I think a covered deck/verandah adds heaps to the feel of a place and gives you that outdoor living space.

I also love skylights! Not those little round ones that look like a light is always on in the room, but a great big one 1 metre x 1 metre or bigger preferably in the kitchen of dark houses! Makes the place so much more livable.

Shar

Hi Christopher

Thanks for your lengthy and enlightening answer!

“In answer to GP, there are some differences in NZ trust law compared to other jursidictions, the main difference being that the tax residence of NZ Trusts depends on that of the settlor, whereas other trust jurisdictions depend on that of the trustees.”
As myself and my husband…[Read more]

Hi Greatpig

No they didn’t mentioned the 50% discount.

I spoke to Nick at Strategicwealth who Simon Macks often recommends on this Forum. He is a very helpful chap. Unfortunately though he doesn’t deal with overseas investments. He put me onto another accountant who specialises in overseas income. He isn’t sure about the trust thing and is…[Read more]