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Very basic stuff

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  • Very basic stuff

    Ok. I confess. I know nothing about NZ propertyinvesting( but want to learn) and even less about posting Q's on a forum so this might disappear into the ether but..........

    Is there a site I can go to in order to find out what statutary costs are involved in buying/holding/selling property in NZ? Stamp duty, land tax, CGT etc. VERY basic stuff but as a skip i'm up to speed on the OZ market but not NZ.

    Help !!!!!!

  • #2
    No stamp duty, land tax, death duties or capital gains tax in NZ (yet!). Australian taxes on NZ income will apply though if you repatriate money, though taxes paid here should earn credits.
    Legal costs for purchase or sale of a standard average freehold home should be less than $1,000 - includes mortgage costs and registering the title.
    Read as many posts here as you can and have a look through the bookshop for books appropriate to the activities you are considering.
    Be very careful if you intend buying into the apartment market, as a number of purchasers have been burnt in this area.
    Gimme $20k. You will receive some well packaged generic advice that will put you on the road to riches beyond your wildest dreams ...yeah right!


    • #3
      Hi JMR, welcome to the forum.

      The bookstore on this forum has many excellent books such as Andrew King's "Planning for Property Success" that cover various areas of property investment in NZ. Have a look.


      • #4
        very basic stuff

        Thanks very much to fudosan and julian for your replies. I will get the book as well.