Hi everyone,
Just wondering whether anyone has experience as a non-resident to invest in property in Australia.
I am living in Canada, and wish to invest my savings from here into investment properties Melbourne.
Could anyone also recommend an Accountant who can do all requisite work related to the tax matters ?
Thanks.
Ash[
]Hi Ash,
Good to hear from another Canadian!!! I grew up in Toronto area, and moved to sunny Australia twelve years ago. Love it here. As we say in Queensland, “perfect one day, sunny the next”.
You are right about needing a good accountant, but unfortunately I’m not sure of a suitable one to refer you to. However, I’m sure many others on this forum will be able to help.
I would however, like to offer my services as a mortgage broker to you to assist with finance if you require it. Some special conditions need to be fulfilled with our banks at this end, and I can help.
Email me off-line at [email protected] if you like.
Best of luck.
Gary Young
Home Loan Connexion
Mobile 0407 64 66 32
Fax +61 7 4636 4841Hi Ash,[
]
There are rules regarding the purchase of property by non residents set by our goverment. They are listed at the foreign reveiw Boards website at http://www.firb.gov.au/content/default.asp
At the moment Melbourne has peaked in regard to capitol growth. If you contact me on the email address below I can send you a copy of our news letter.This has a state by state summmary from the latest BIS SHRAPNEL report included
I can also assist you in all aspects of purchasing here including your legal requiremets in a safe manner.Regards
Bryce Inglis
brycei@ipal
http://www.ipal.com.auThe seagulls are coming in to pounce [
]This might be useful
Good luck,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985
The seagulls are coming in to pounce []This might be useful
Good luck,
Hi Simon,
This was my first posting….so I forgot to mention that I am an Australian Citizen. I think that way I am quite in the clear as far as firb is concerned.
If you have any other advice you can offer now, you are most welcome.Thanks.
Ash
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985Gary,
Thank you, I was delighted to hear from you !
While it is true that I am in Canada, I just had forgotten to mention that I am an Australian Citizen.
I am sure that you would have heaps of advice now….do let me know when you can !
Thanks a lot.
Ash.
Hi Ash,Good to hear from another Canadian!!! I grew up in Toronto area, and moved to sunny Australia twelve years ago. Love it here. As we say in Queensland, “perfect one day, sunny the next”.
You are right about needing a good accountant, but unfortunately I’m not sure of a suitable one to refer you to. However, I’m sure many others on this forum will be able to help.
I would however, like to offer my services as a mortgage broker to you to assist with finance if you require it. Some special conditions need to be fulfilled with our banks at this end, and I can help.
Email me off-line at [email protected] if you like.
Best of luck.
Gary Young
Home Loan Connexion
Mobile 0407 64 66 32
Fax +61 7 4636 4841Hi Bryce,
Thanks for this advice.
Sorry,I forgot to mention that I am an Australian Citizen.So firb rules may not be applicable.
Thanks
Ash.
Hi Ash,[]
There are rules regarding the purchase of property by non residents set by our goverment. They are listed at the foreign reveiw Boards website at http://www.firb.gov.au/content/default.asp
At the moment Melbourne has peaked in regard to capitol growth. If you contact me on the email address below I can send you a copy of our news letter.This has a state by state summmary from the latest BIS SHRAPNEL report included
I can also assist you in all aspects of purchasing here including your legal requiremets in a safe manner.Regards
Bryce Inglis
brycei@ipal
http://www.ipal.com.auHi Ash,
email me off-line at [email protected] if you have private questions, or happy to discuss them here, if you are comfortable with that.
Gary Young
Home Loan Connexion
Mobile 0407 64 66 32
Fax +61 7 4636 4841
email [email protected]Ash,
Love to give advice – it’s what makes my world go around. Could you help me out by posing a question?
I mean you want to invest in Australia and can we advise you…..wow where to start[
]Cheers,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985Ash
You are right when you say the FRIB rules do not apply…well according to my research. My husband and I are investing from abroad also. While getting responses to your emails can be painfully slow, if you find a great group of advisors to support you and your due dilligence is thorough there is no reason why you can not invest successfully in property while off shore.
Tamara
Thanks Tamara,that was very encouraging.
In my experience too, it is similar.With Real Estate Agents, there are good and fast responses until they seem to find out sooner or later that you are several thousand miles away, and somehow the interest seems to drop !
I don’t blame them, they just are too busy with their clients that are close by.
If you have anyone that you recommend for providing guidance to me being far away in Toronto, will be very happy if you are able to please share the contacts.
I visit Australia at least once every year.
Ash.
AshYou are right when you say the FRIB rules do not apply…well according to my research. My husband and I are investing from abroad also. While getting responses to your emails can be painfully slow, if you find a great group of advisors to support you and your due dilligence is thorough there is no reason why you can not invest successfully in property while off shore.
Tamara
Hello Ash,
Yes, certinly no FIRB is required.
However, when calculating figures for yor property, keep in mind that you will be taxed at non resident rates.
Also, look into financing the home from abroad. It usually requires a 20% deposit, but a good broker can assist more with this.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au
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