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I dutifully filled in my NSW land tax form last year and sent it in before April 31 and I never heard anything back. The property was in a trust so tax was from the first dollar and I rang them first and got all the official valuations so I knew what kind of bill I was up for but I have never...

How does the ATO treat the same scenario if it is done through a discretionary trust? Does the ‘multiple properties in the trust’ idea help? Obviously I wouldn't be claiming the interest against personal income but would the costs and interest be claimable for the trust?

Big disclaimer time again - check everything I wrote yourself with your own people. This was just what I found out and is appicable to me but may not be for your situation. A call to the ATO/IRD (NZ) can help answer a lot of your questions officially too. As for price information - you are...

I have a couple of properties in NZ which I decided to buy through my Aussie discretionary trust. There was no advantage to setting up a NZ registered trust or a company structure like an LAQC (Loss Attributing Qualifying Company). Using my existing trust I gained the asset protection and tax...

What SC described is bascally how I described the situation to my friend. I hadn't related it to "turning your own home into an IP" scenario though but I guess the comparison rings true. Can you confirm SC's answer or add some other comments if not right please Dale? Her accountant has told...

I have a friend (who is a lurker here and won’t ask her own questions) who has a situation with an IP so I thought I would ask a question on her behalf. She purchased an IP last year and put up 20% of her own cash as deposit plus the associated costs and borrowed the remaining 80%. She did...

http://www.smh.com.au/articles/2003/09/28/1064687670782.html This is a good article care of the Sydney Morning Herald. To me it shows how these kinds of figures have to be taken in the same way that capital growth figures should be - with a huge grain of salt and some intelligent...

Just a follow up for this thread. Everything written above is correct about the tax relationship between NZ and Oz if an Aussie resident is to buy in NZ. Marcs tip about trading property is an important one. If you 'buy a property, then renovate it and sell it without the intention to rent'...

Thanks for that tip Marc and the other links posted. I've contacted a few other in NZ and the information is flowing in. Cheers,

I have a question about buying investment property in New Zealand and the entity that should own it to maximise the tax benefits. I have 3 choices as I see it. I can buy in my personal name, my Aussie family trust or a NZ family trust. I am an Aussie resident for tax purposes and have no...

I agree. Any novice would have been totally confused by this. They were both interesting stories so why not run them seperately? One muniute they are talking to the wrapper and he's saying he charges 3% and then just before its cut he fits in 'above bank rates' and the next second someone is...

Thanks for the replies so far. I agree with both Jas and Lotana. Technically, Lotana is correct but I have read a lot of anecdotal evidence of Jas' point of view. Does it work? Did those of you that have done this use different surveyors for the before and after reports? I’m only interested...

When I bought an apartment last year I got a quantity survey report done immediately and then ripped everything out and renovated it. Using the original QS report I scrapped the remaining value of the items I replaced during the reno (ie oven, carpet etc.) in my 2001-2002 tax return. Now I need...

Dynamite, I recently had a wardrobe installed in a bedroom in one of my apartments. It was 1700mm wide so had 2 sliding mirror doors, double hanging space and shelves internally, and pelmet to take it to the ceiling. They also matched the existing cornice around the top so it looks like it...

Andrew, Skip the dynabolts. You would probably twist your arm off doing up all the nuts. We put battens and floorboards over a concrete slab in our home. We had Sydney Flooring do the job after investigating everything at the Building Advisory Centre in Sydney. First they laid that thick...

So as part of the settlement she would get cash and he would get property?

I have a friend who is going through a divorce at the moment and his soon-to-be ex-wife wants to sell their IP and spend the cash. We used to work together and he must have absorbed all my ranting about how good property is so he would like to hold onto the asset. He is trying to come up with...

My accountant has always said to buy IP's in my personal name as the implication is that I am doing so as a director of a trustee company for my discresionary trust. This is confirmed by the accounting and the tax returns. I also have a minuted item in my trust documents. One of the reasons...

Macca's right. The current form asks whether you have lodged a land tax form in 2002. If you have then you answer a different set of questions to those if you haven't. I never thought that they would then process your return from then on as this is the first year I am liable. My account sends...

Another issue is the emtional one. If a peice of land has a nice house on it then the buyer may be willing to pay a premium for it because of an emtional attachment - "I can see my family living here" etc. Not all buyers are investors who do there due dilligence.