All Topics / Overseas Deals / New to the game-IP buyer

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of iceripicerip
    Member
    @icerip
    Join Date: 2005
    Post Count: 2
    February 9, 2005 - 2:51 am

    Hello

    I am interested in buying IP in NZ. Could someone point me in the right direction on where information can be retrieved on the tax implications. Is it asviseable to set up a loan here in Australia,as I am a tax paying citerzen or is it adviseable to set up a loan in NZ.Also what do I need to know before setting up a loan.For example-

    1. Are there any penalties for exchanging
    currency

    2. After buying an IP,do we pay tax in NZ or
    Australia.

    In regards

    icerip

    Profile photo of shaztazshaztaz
    Member
    @shaztaz
    Join Date: 2004
    Post Count: 113
    February 9, 2005 - 4:53 am

    Hi icerip,
    You will need a loan from a lender who is represented in both countries.
    If you set up a trust in NZ, this will mean you don’t pay aust tax on that income. This guy had a post on the forum recently and will be able to help you:
    Christopher Raynal
    Master Accountants Group Limited
    PO Box 46018 Herne Bay
    Auckland New Zealand
    Ph +64 9 360 3259
    Fax +64 9 360 2180
    http://www.masteraccountants.co.nz

    Also if you need help (for a Fee)finding an IP in NZ, these people are spotters/bird dogs: Weston, MiniMogul,Castledreamer. Their details are in the members section if you want to make contact. There could be others, not sure.
    Regards,

    Sharon

    Profile photo of CastleDreamerCastleDreamer
    Participant
    @castledreamer
    Join Date: 2003
    Post Count: 288
    February 10, 2005 - 11:35 am

    Hi Icerip
    just to clarify some of the comments here. You don’t need to lend from a lender that is represented on both sides of the tasman. You can lend from the “Bank of New Zealand Sheep Shearers” (example!!!) if that bank will lend to you!!!
    Secondly, setting up a trust in NZ does not mean that you don’t pay tax on the income!!!!
    If you want serious advice about trusts etc, I agree with shaztaz, Chris Raynal of Master Accountants is an NZ accountant who knows accounting from both Aussie and Kiwi perspective. Get your advice re trusts, tax etc from the right people.. plenty of us on the forum will have different stories to you and what we do won’t suit you, or may not even be described properly on the forum either.
    Cheers
    CD

    CastleDreamer
    NZ Investor and Property Spotter

    Profile photo of shaztazshaztaz
    Member
    @shaztaz
    Join Date: 2004
    Post Count: 113
    February 11, 2005 - 1:54 am

    I stand corrected… my apologies [embarassed]
    Always more to learn.

    Sharon

Viewing 4 posts - 1 through 4 (of 4 total)

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