Hi there,
I need some advice please.
I am a kiwi now living and wroking in Australia. I have two properties in Australia and have recently bought one in NZ, which is performing very well. Over the past year my wife and I have been able to save a fair bit of cash for our next investments. We are looking to invest again in NZ as I have found more properties with positive cash flows.
What I am getting at is, how should I purchase these properties??? Should my wife and I buy them in our names?? Family trust?? Business?? etc.
I have recieved advice from an accountant in nz who stated that it would not be worth buying under a family trust as tax is about 30%. However if we buy using our names, it wont be long until we reach our lending limit.
Our plans are to keep buying as many as we can afford over the next few years in nz, then hopefully one day afford to continue buying in oz.
Any advice will be greatly appreciated
Most common advice i have heard in this regard is
-Family trust, under a company banner. With family as beneficiaries (+ a company as a beneficiary)
1) For the asset protection
2) Reduce land tax
3) ability to redistribute wealth (ie to kids – or lowest earning partner)
4) planning for future (ie your death)
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