I thought that even having an ANZ account in both countries, the banks would still charge a TT and forex fee.

you’re right, they do.

regards,

Rod

I have no probelm with buying properties that are distant from where I live. Currently I don’t have any in my own state. If you spend the time initially to get “your local team” in place (property management etc) then there shouldn’t be too much problem.

As both monopoly and westan said, make sure the property stacks up in all respects – not just…[Read more]

my enormous amount of words was me just saying basically ‘my individual preference is for property.’ – and my reasons why, which come down to my experience, guidance, interests, risk profile, personal and financial goals, and successes. it is my “expertise” that means that *my* properties will outperform shares *for me*.

Hi mini,

I don’t think…[Read more]

Sounds like you’ve done OK so far.

I’ve done both, used equity for some deposits, used cash for others. Personally I like a balance of CG and cashflow properties as that’s what fits my strategy. Yours may be different.

Don’t be too influenced by the pace that others have invested at, only you can decide what is right and comfortable for you. You…[Read more]

Hi Jo,

I don’t think you should get blasted for just telling the truth.
Unfortunately there are a lot of uninformed opinions and an unwillingness by many (not all) to do even basic research. I guess the forum really is a reflection of real life!

regards,

Rod.

It’s a good spot,

There’s also the wind farm project.

regards,

Rod.

Hi Jet,

Yes I’m aware of that, that’s why I do have insurance. Like many here I don’t wish to advocate one over the other. I invest in both and will continue to do so.

regards,

Rod

Come on Mini!!

Seriously, is there no topic you won’t hijack to tell everyone how good NZ is? [biggrin]

regards,

Rod

Very well said Acey,

However I get the impression that many of those here know more about the theory of how not to lose on shares than the reality.

Westan’s right, it is certainly possible to lose >50% overnight on shares. Obviously if you have suitable risk and money management techniques then this one event won’t wipe you out. But many traders…[Read more]

Talk to your accountant.

However, my recollection is that purchasing costs are not immediately deductable. Some get added to the cost base for CGT purposes. Others can be depreciated over 5 years.

regards,

Rod.

What every government wants is to have an economomy that grows at a steady low rate

I disagree,

What every government wants is to have an economy that gets them re-elected!

Rod.

Yep,

Seems to be 80% or lower (depending on the area) from what I’ve seen.

regards,

Rod.

G’day Westan,

that’s why I said generally not, as I’m sure there are some circumstances (such as yours) where a deduction can be claimed.

Fordlands certainly is a no go area for some managers, there are also some other parts of Rotorua which some managers don’t like either.

Rotorua’s an interesting place there are some really dodgy looking…[Read more]

Generally not.

I’ve had depreciation schedules done for 3 pre-1985 build properties and all cases it’s definitely been worth it.I’ve easily had deductible depreciation well in excess of the cost of the schedule (about $450) so the report has been paid for in the first year, also the QS cost is deductible as well.

regards,

Rod.

My understanding is that with your current properties, you’d have to essentially ‘sell’ them to your trust, incurring hefty Stamp Duty on this transferall

and possibly Capital Gains Tax as well!

Rod.

Same here,

Kiwi Pathfinder brand are good. Can get them from Dymocks.

Rod.

I have been reading the previous emails, and am wondering if you buy a +ve cash flow property in NZ and don’t bring the money back Aus will you still be liable for any tax in Aus?

hi Ben,

Yes, if you have invested in your own name you will pay tax on the income in NZ. You will also have to declare this NZ income on your Australian tax return,…[Read more]

Originally posted by ezy.home.loans23320:
I also have a question a friend of mine just bought in nz and said he had to pay 40% deposit
is this the norm for people in Aus buying in NZ
If not how do you go about obtaining finance at say 10% .thanks to all who help with information[mario]

Generally a 20% deposit is required, but for some areas…[Read more]

Hi Raymondo,

judi is correct. If the rental yield is high enough then the rent will cover all outgoings (mortgage, insurance, rates etc) and still leave you some left over. What you seem to be talking about is the -ve geared, +ve cashflow model (as promoted by Margaret Lomas). What we are aiming for is +ve geared, +ve cashflow where you don’t…[Read more]