Help! I am a kiwi living in QLD with an offer on a block of units in CHCH currently, I have 14 days to organise finances etc…the thing is I am told I need at least a 20% deposit and thats fine as I can get that from the existing equity in my PPR and set up a seperate loan here in AUS for the deposit and get a loan from a NZ bank for the balance BUT my question is …how do I service the AUS loan which I have gotten out for the deposit? Without incurring heaps of fees for money transfers from NZ to AUS bank accounts? I thought I could have borrowed the whole amount from NZ using my PPR equity here – as I have more than enough to cover the whole deal – now it seems all messy!!! And question 2 is I assume that the deposit loan here in AUS is still tax deductible against the units in NZ??? HELP? I have spoken to NZ accountants who seem hazy on this as well…Can anyone shed some light – this surely should not be so hard?
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