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Quote: If a dwelling was not your main residence for the whole time you owned it, some special rules may entitle you to a full exemption or extend the part exemption you would otherwise get. These rules can apply to land or a dwelling if::::
you are yet to live in the dwelling but will do so as soon as practicable after it is constructed, repaired or renovated and you will continue to live in it for at least three months”The way I understand it you are fully exempt if it is your own dwelling and live in it for a minimum of 3 months after construction, that look correct?
Hi Crashy
I guess the grass does look greener on the other side.New Zealand house prices are at an all time high with rental returns lagging behind.
My house is valued at 520k in NZ with an approx rental return of $350p/w whereas a similar house in brisbane would be valued at 350 to 400K with probably the same return.But in saying that there are definte cashflow +ve deals in NZ.
Tauranga is a nice city and a go ahead place. You really need to live here to learn the areas that are good or bad.Wellington would probably be my choice, not the greatest climate ,but I have seen a lot of good deals there.
Good Luck
I guess its the same reason 20000 kiwis move to Australia each year, A better Life.
Thanks for the information Richard, I will check out the accountant you recommended.
These forums have so much information, looks like I have a lot of interesting reading ahead.
