From: Whittaker Hamilton
Well here goes.
I have a home i live in with sufficient equity in it to purchase a IP.
Within the next 12 months i Intend to move to New Zealand to live permanently.
I would like to buy a IP here b4 i go back as an Australian Ip is claimable on NZ tax and has better capital growth.
My problem being I would like to sell my own house on leaving OZ so I only have the new IP to deal with.
But if i have used it to buy a Ip how can i do this? LOC?
Ideally i would like to buy a house to live in in NZ within 12 months of moving to NZ.
Would i be better off waiting till after i purchase a place of residence in NZ b4 thinking of getting an IP. That way i could use the larger deposit ( from the equity on sale of home on leaving) to reduce my own mortgage first, then borrow against it for IP'S. This may be 1-2 years away though.
any how i was told that if i got finance here through a australian bank i would be better off refinancing when i moved to NZ. As the tax dept tax 2% of mortgage interest from foreign countries.
Is there anybody that may have knowledge on this subject help and suggest a way i could kick start my IP portfolio and minimise costs.
Well here goes.
I have a home i live in with sufficient equity in it to purchase a IP.
Within the next 12 months i Intend to move to New Zealand to live permanently.
I would like to buy a IP here b4 i go back as an Australian Ip is claimable on NZ tax and has better capital growth.
My problem being I would like to sell my own house on leaving OZ so I only have the new IP to deal with.
But if i have used it to buy a Ip how can i do this? LOC?
Ideally i would like to buy a house to live in in NZ within 12 months of moving to NZ.
Would i be better off waiting till after i purchase a place of residence in NZ b4 thinking of getting an IP. That way i could use the larger deposit ( from the equity on sale of home on leaving) to reduce my own mortgage first, then borrow against it for IP'S. This may be 1-2 years away though.
any how i was told that if i got finance here through a australian bank i would be better off refinancing when i moved to NZ. As the tax dept tax 2% of mortgage interest from foreign countries.
Is there anybody that may have knowledge on this subject help and suggest a way i could kick start my IP portfolio and minimise costs.
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