Hi Forumers,
I know this has probably been discussed a billion times on the forum but i can't find any threads that answer the question for the life of me!
Anyway, we've just sold our NZ IP and have made a small profit……just wondering if i'm right in assuming that in order to bring the money back into Australia i'd be taxed on that amount?
But i do have the alternative of 'lending' the profit to my Australian P/L to invest with?
Is there any other way to bring it into Australia (legally of course
)??And what about the 20% i originally put down, there's nothing special that i need to do about that 20% in that it can be transferred directly into my bank account and not taxed given its not income??
Any thoughts would be appreciated.
Kim
How long did you hold the property, was it in a trading trust , because you may be taxed at the Kiwi end
)??
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