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[Bluekiwi]

When was this exactly?

1997 to 1999.
2008 to 2010.

Thats as far as I go back.

[propertysearch]

True. Apart from cash in the hands deals Kiwis pay into the tax system, although with a tax free threshhold of $18 000 maybe not all that much.

The hospital and medical system cost taxpayers a packet and Medicare is a costly service. Most folk going overseas have their own medical cover. Whilst I would not deny Kiwis the ability to see a GP once in a while I guess I find it a bit rough if the system is abused for expensive treatments which may cost in NZ.

Maybe we need to make NZ a state of Oz. That way you'll stop beating us in the rugby and stop giving property investors a hard time.

I understood that the, so called, free health care was paid for by income tax. Is that not so?

If it is so, surely kiwis pay income tax in OZ?

If they don't then I'm coming there very smartly.

[Wayne]

True. Apart from cash in the hands deals Kiwis pay into the tax system, although with a tax free threshhold of $18 000 maybe not all that much.

The hospital and medical system cost taxpayers a packet and Medicare is a costly service. Most folk going overseas have their own medical cover. Whilst I would not deny Kiwis the ability to see a GP once in a while I guess I find it a bit rough if the system is abused for expensive treatments which may cost in NZ.

Maybe we need to make NZ a state of Oz. That way you'll stop beating us in the rugby and stop giving property investors a hard time.

I'm pretty sure if I come over, get a job, pay taxes I still won't be able to get welfare.
Are you saying I can pop over and you guys will replace my hip - for free?

[Wayne]

Whilst I sympathise with your problems just imagine how Aussie investors feel. We bought when nobody else wanted property in NZ and were appreciated at the time. Now that supply is tightening and prices are nudging up we are being painted as the villains for a housing shortage and there is talk about how to penalise this group.

You did that as a social service or to make money?
And I didn't ask you to buy our houses or appreciate it at the time!

To rub salt into the wounds Kiwis are invited to take up high paying mining jobs in Oz and kiwis are using our social security system as if they were residents. Now kiwis living in Oz demand that they are able to access free health care. What next?

I believe they were jobs that Aussies wouldn't take.
There was a TV programme that asked the questions when Aussies were moaning that Kiwis were talking their jobs. They asked why they weren't up in the mines also and they didn't want 'those' jobs.
A good excuse to moan about something - a human nature thing, not an Aussie thing. Grass is always greener etc.

So the kiwi has a job like an Aussie, pays taxes like an Aussie (and I'd suggest that the under the table payments are no more taken by Kiwi than Aussies) but don't get the benefits like an Aussie. Call that fair?
And I know they knew how the system worked before they went etc.
And I know they could get the benefits if they become a citizen, if they get enough points etc.
Still seems a little wrong somehow.

[elguapo]

1997 to 1999.
2008 to 2010.

Thats as far as I go back.

Odd, I recall buying housing during both those periods.

[Wayne]

Odd, I recall buying housing during both those periods.

You must then be an Australian and thank you for buying and saving us poor Kiwis :-)
Have a nice day.

[elguapo]

You must then be an Australian and thank you for buying and saving us poor Kiwis :-)
Have a nice day.

I can't say I remember being Australian at all, but I must be I guess if I was saving NZ'ers from buying their own houses! I've never blugged off Medicare or Australian benefits either, so I clearly can't be a Kiwi.

[propertysearch]

Aussies do not want jobs which pay $150 000 pa? Dream on. Aussies were cut out.

A lot of what you say is fanciful. Our governments rarely care about the those who voted them in. That is one of the real problems with our elected representatives. As for "moaning" you maybe need to listen to some of your countrymen here who try to exploit a weal system.

Whilst I like Kiwis I need to say that most people in most countries do not appreciate those who visit and abuse our lax laws. If Australia were not an easy touch then Kiwis would not be leaving their own country as they have been for a long time.

As I said in the original post Aussies just expect a fair go. We do not like being plundered. It sits badly when we make an investment (when nobody wants residential real estate) and then are vilified when these investments come back into favour and locals want them back. You would be aware of the calls to ban Aussies from buying Kiwi real estate. Kiwis would not be treated that way in Oz.

You did that as a social service or to make money?
And I didn't ask you to buy our houses or appreciate it at the time!



I believe they were jobs that Aussies wouldn't take.
There was a TV programme that asked the questions when Aussies were moaning that Kiwis were talking their jobs. They asked why they weren't up in the mines also and they didn't want 'those' jobs.
A good excuse to moan about something - a human nature thing, not an Aussie thing. Grass is always greener etc.

So the kiwi has a job like an Aussie, pays taxes like an Aussie (and I'd suggest that the under the table payments are no more taken by Kiwi than Aussies) but don't get the benefits like an Aussie. Call that fair?
And I know they knew how the system worked before they went etc.
And I know they could get the benefits if they become a citizen, if they get enough points etc.
Still seems a little wrong somehow.

[elguapo]

It sits badly when we make an investment (when nobody wants residential real estate)

I'm sorry mate, but when exactly has no one wanted residential real estate? You where buying because you believed it to be cheap, not because you were providing Kiwi's a social service.

You would be aware of the calls to ban Aussies from buying Kiwi real estate. Kiwis would not be treated that way in Oz.

NZ'ers once had full reciprocal rights to benefits and services, they were stripped of that. No doubt if NZ'er were large scale buyers of Aussie real estate there would be calls for that to be stopped too.

Whilst I like Kiwis I need to say that most people in most countries do not appreciate those who visit and abuse our lax laws.

What lax law do you think is being abused exactly?

[flyernzl]

NZ Property Investors Federation.

http://www.nzpif.org.nz/news/view/56355/

That article is dated Thursday, Jan 01, 1970.

Time travel?

[propertysearch]

You've got that one right Viking.

On the bright side I come from an era where interest rates hit 18% so 6% sounds good to me.

As a matter of interest don't be fooled by the old adage that "real estate never goes down". Whilst this has been a truism in the Central Banks created credit bubble of the past 60 years history tells us otherwise. And a look at places like Japan and the US in the past 5 years tell a compelling tale as well. I guess we all have to invest in something and houses are one avenue. But I am not sure that putting too many eggs into this basket is wise. Time will tell.

Look on the bright side.
Pay more interest, charge more rent, value of property increases based on earning capacity. Pay less tax or in my case continue to pay none.

If these properties are considered a business then the yield becomes the price setter. with banks at 4% 6% becomes attractive to buyers.

Problem with turkeys like the Reserve is that they haven't learnt yet that there are more smart people out there than them. There will be a way around this and the legal fellows will find it. Always do. So will the banks as they are in business to make a dollar. They will not want to lose their lending. They are starting to whine now with lowering amounts of lending.
Private lenders are not bound by these rules so for example the banks could lend to another lender at a minor margin and the other lender could lend to you and me for the same rate at retail. Return of the finance Companies.
Deals abound.

[Wayne]

Aussies do not want jobs which pay $150 000 pa? Dream on. Aussies were cut out.

exactly how were they cut out?

A lot of what you say is fanciful. Our governments rarely care about the those who voted them in. That is one of the real problems with our elected representatives. As for "moaning" you maybe need to listen to some of your countrymen here who try to exploit a weal system.

I have no idea what a weal system is.
As for Kiwis exploiting the Australian welfare system I think that has gone the way of the Ark.
Kiwis have a 78.2% participation rate in employment compared with 68% for Aussies - you guys bludge your own system!
They pay the same taxes to the Aussie system but enjoy fewer benefits.

As I said in the original post Aussies just expect a fair go. We do not like being plundered. It sits badly when we make an investment (when nobody wants residential real estate) and then are vilified when these investments come back into favour and locals want them back. You would be aware of the calls to ban Aussies from buying Kiwi real estate. Kiwis would not be treated that way in Oz.

Where is this evidence of plunder? Any stats to back that up or have you been reading too much biased media out for a story?
And you continue with the bull that you 'helped' us by buying our realestate - there was a dip and you saw an opportunity.
Others in NZ (here on these forums) did as well.
I also don't think there are many calls to ban Aussies from buying in NZ, maybe an opinion piece but no 'call'.

[REIT]

just making life difficult for the rest of us!

[marklowes]

If you read the policy decision it states that anyone with more than 5 (I.e 6 or more) properties will be considered a small business for risk purposes; that is regardless of other income or sources of revenue.

Only going to effect cheaper auckland areas where landlords may have large portfolios and may be forced or inclined to sell a large portion off.

It also only relates to properties that the bank has recourse over. So an aucklander who owns 5 properties that have gone up in value a combined 600k plus in past 2 years can still buy 3 more investment properties (at 200k each) in p.n using only the current 5 auckland properties as security.

[Viking]

So are we any the wiser as to what is going to happen and what the rules will be?