Hi,
Just wanting to know how often we can access our rental property money from N.Z. If the properties are purchased through a trust, the money goes to the trust account in N.Z. how often can we draw on this money weekly, monthly or annually back in Australia?
As there is not much point having positive cash flow property if you can only access the money once a year.
Any info will be much appreciated.Dimo
Dimo
You can access the funds as often as you like. We have a tax agreement between our two counties which means any tax you pay in New Zealand you will get a tax credit for in Australia. But you still need to declare any funds that you bring in.
Nigel Kibel
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You just have to weigh up the charges of transferring money overseas. I know ANZ charges $22 to send overseas from Australia, plus they make a bit on the exchange rate too. Could be costly to bring it back too often.
What about just leaving it there and paying down the loan?
Terryw
Discover Home Loans
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You just have to weigh up the charges of transferring money overseas. I know ANZ charges $22 to send overseas from Australia, plus they make a bit on the exchange rate too. Could be costly to bring it back too often.
What about just leaving it there and paying down the loan?
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Dimo
the others have answered the question for you.
One other thing to consider
when you are transfering money if its a larger amount say 10,000 or more consider using Ozforex, they are excellent , no charge and they make less on the currency than the banks. I’ve been using them for over 2 years , they have literally saved me thousands.
regards Westan Johnson
Westdan,
How did you transfer money from NZ to Oz using forex ?Hi
I know this is a little off the topic but it seems everyone on this blog knows a bit about investing overseas.
When investing in NZ has anyone heard of gaining finance in Australia? I ask this as NZ interest rates are probably 2% higher than Australia which eats away into your profit. Also i have a friend in Hong Kong who is able to borrow at 4% interest rate to buy property in Australia. So it must be possible somehow?
Yes, a few lenders will lend for NZ properties from Australia. eg. Pioneer mortgages.
Terryw
Discover Home Loans
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Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
hi i transfer money from the US by having it deposited in my bank of america account and using any efpos in aust , if i use wespac there is no fees tonka
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