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If the $30,000 tax on vacant land in victoria is passed, what effect is this likely to have on property values & the victorian economy?
Also, given that new zealand property incurs no stamp duty or capital gains, why don’t more people invest there?
Lastly, if i live in australia, is rental income from such a property taxed in australia or nz or both?adco,
To answer your last question, if you are an Australian resident and earn income from NZ, you will be taxed by both countries. However, you will receive foreign tax credits up to the amount payable in Australia on that foreign income.
Hope this helps
Rhys
Viewing 2 posts - 1 through 2 (of 2 total)
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