Hi, I would like to purchase an investment property in Aussie by using the majority of equity from a NZ rental property. However I cannot grasp if it's viable or even a wise idea due to currency conversion. In terms of taxes, capital gains etc….do I count the losses to move forward or is it likely to balance out along the way?
Will need to speak to a tax accountant who deals with dual accountancy. ATO as a list.
But in term of finacne, a few selected lenders will consider using an NZ property as equailty. ie ANZ, AFM.Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Mushroom, if your still thinking about this- just to let you know, for serviceability point of view the bank will convert all income into Aus currency and discount it off by 10%. so only 90% income considered.
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Mushroom it all depends on your own situation and weather or not you live in ozzie currently or you want to move to oz, if you want to move here then it may be worth bringing your cash here
currently the exchange rate is bad, secondly if you do not live here you may find it hard to borrow oz money and even if you move here then you will probably find it even harder to get a loan for the first year or two, then there is capital gains tax, there is stamp duty and so on.
Nz is down but it will come back later on.
just my thoughts
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