Hi all
There has been some recent discussion about properties in New Zealand, I have viewed the web site mentioned by MiniMogul and found a staggering number of properties currently returning 15 to 20%.
So my question is, does anyone on the forum have experience with NZ realty and especially financing and taxation (Australian aspect).
Also MiniMogul, thanks for the great posts you have shared, I was pleasantly surprised to discover you are a “chick”[
], I am wondering if you are going to be at the masters (that sounded like a pick up line[], very embarrasing since I am a girl too.) I would like to chat with you more about your experience. Otherwise could you email me at[email protected].Cheers
Leigh K[]Leigh
NZ and oz have a reciprocal tax agreement. you will need to get some advise but the gist of it is you get taxed in nz and then declare you earnings and tax in oz and they tax accordingly. eg. the top income tax bracket in nz is 38%, in oz 48%, when you make your oz tax declaration then you will be taxed the extra 10% assuming you are in the high tax bracket. There is the option for trust structures etc
Financing works just like in oz except as an oversees investor you would need to provide a 20% deposit. I recommend a broker. I have a site that you might be interested as the guy is quite create in his approach to mortgage structures.
I would research up the areas carefully just like you would in oz. Yes there are some very cheap properties but keep your eye out for unemployment rates, what industry in the small rural areas etc.
I am only a novice but have one IP in nz, we were living there at the time it was purchased and are now looking in oz.
There is a lot more info. I will source some of the sites of interest and post them when i have a little more time.
tamara
hi as a curiosity do the tax laws in NZ reflect the tax laws in australia eg. Negative gearing and tax deductions?
[^]Hi All,
This sounds really exciting. I just need to know one quick thing (so please ignore my ignorance). I am looking at purchasing in NZ but am not a citizen of either NZ or Oz. Does this cause a problem or is it similar to the regulations placed in Australia (i.e. can only purchase new property, etc..)?
Cheers
Adam
Hi Adam
It is not something that I can answer directly except to say that New Zealand does not have FIRB. The laws as far as foriegn investment are a little more lax in New Zealand. I suggest you contact this web site and ask.
If they cant answer then I am sure they will be able to connect you with the correct government agency.
As promised I have also attached a couple of other web sites for people to look at when investing in NZ.
the Auckland market
http://www.hpc.co.nz/index.phpMortgage Broker there are plenty of others i have marked but this was a good place to start.
http://www.financialpictures.com/The below site has interesting articles including general market information but go to the ESC link and they have information about the oz/nz tax laws
http://www.propertyinvestor.co.nz/
Try any of the major RE companies in oz and they have branches in NZ
due dilligence Type in the district or city council area you are looking for and you should get a good result.
There are some land issues in NZ regarding Maori land claims. If you are investing in areas where land is still contested you need to be aware. This would be more important in smaller rural areas. I am not sure how you would do a search like this.
I have further web sites but I suggest you ask and I will post more as required.
Tamara
Thanks Tamara there’s some really useful information there.
Cheers
Adam
], I am wondering if you are going to be at the masters (that sounded like a pick up line[
]
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