Can anyone help me by giving a short rundown on the associated costs of buying in NZ? For example in NSW we need to consider Investors Tax, Land Tax, and CGT apart from normal closing costs. Current and maybe even proposed items would be of interest.
Frank
HI direct,
a search will cover most of this information but a basic summary is as follows;
1. no capital gains tax in certain cases in NZ, but may end up paying it here in Australia on your foreing (NZ) sourced income.
2. no stamp duties
3. conveyancing around 500-1200 bucks
4. building inspections around 150-450 bucks
5. you pay the valuer direct 300-450 depending on type of property
6. bank fees – application fees as varied as here 0-600 bucks
7. depreciation schedules if you want them…
8. Aussie entry in NZ property market rather open, no major obstacles to investing.Cheers
CDCastleDreamer
NZ Investor and Property SpotterThanks CD I really appreciate your response.
Frank
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