I viewed your email on the story of the 20 property investors an noted that one investor was buying property in New Zealand, can you tell me if you live in Australia and buy and rent a property in New Zealand do you pay capital gains tax if you sell that New Zealand property down the track.
Regards BorgieBasically as an Australian resident you are taxed under Australian tax laws on all income including capital gains irrespective of whether it is gained in Australia or elsewhere.
Suggest you seek very competent professional advice before you start.
Hi Borgie,
There are lots of us forumites who buy property in NZ, as residents of Australia.
There are very complex laws for offshore investors, so I suggest that you seek qualified legal or accounting advice on this.
There are ways around it, but you must do things correctly.
The person you are referring to on the Today Tonight program is a New Zealander who is living and working in Australia. He is a resident of Australia. (I was the other one)!
Regards,
Del
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Hey del!Congratulations to you and Wil for achieving the mill worth of property in 6 months!!! Aren’t you glad you sold the asparagus farm!!!
Keep up your hard work!
Scremin.
P.s. Cremin and I have finally settled down after our move from UK and are loving the new lifestyle in Geraldton.Success is 1% inspiration and 99% perspiration.
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