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Type: Posts; User: Anthonyacat

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  1. Replies
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    Pretty sure everyone is. I'm paying 4.45% for...

    Pretty sure everyone is.

    I'm paying 4.45% for my ANZ Flexi and 4.8% for my ASB Orbit. Though in practice I'm not paying much at all because they're mostly full.

    What are you on?
  2. Trusts still offer significant tax benefits in...

    Trusts still offer significant tax benefits in some circumstances - those with kids in their late teens, or an unemployed spouse or other close relative.

    But I have personally (and professionally)...
  3. What a great first post. Dreams are wonderful,...

    What a great first post. Dreams are wonderful, but can be a bit hard to tie down, and focus in one direction.

    I'm presently considering long term options of leaving Auckland. This is not my...
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    Looks nice! I'll give you $750k for it right now,...

    Looks nice! I'll give you $750k for it right now, unconditional. PM me.

    Seriously though (well, actually, if you're keen I was 100% serious) you just need to work out what yield you'll sell on....
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    There should be no NZ tax liability relating to...

    There should be no NZ tax liability relating to the situation described above. Irrelevant whether you have any other houses anywhere else in the world.
  6. Capital expenditure on the property is added to...

    Capital expenditure on the property is added to the initial cost of the property for bright line purposes. If you buy something for $200k, spend $50k renovating it, and then sell it for $300k, your...
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    Ringfencing has created virtually no...

    Ringfencing has created virtually no disadvantages to trusts. Losses were already ringfenced in trusts.

    If it was worth putting it in a Trust before, then yes, it's "still worth it."
  8. Bright Line would not apply to the transfer as...

    Bright Line would not apply to the transfer as part of a relationship break-up.

    However, I believe that the bright line date may then be reset to the date of transfer so it would apply to any...
  9. As always, it depends on the extent of work and...

    As always, it depends on the extent of work and you should get specific advice from your accountant, but the most likely answer is:

    1) Removing and replacing the fence with something better is the...
  10. Weird. I wrote a post, posted it, then went to...

    Weird. I wrote a post, posted it, then went to edit it and it disappeared.

    Anyway, it was something like:

    Theres a pretty big difference between "a lawyer" and a specialist tax law expert.
    ...
  11. Correct. Residential only.

    Correct. Residential only.
  12. As Nick has said, talk to your accountant! But...

    As Nick has said, talk to your accountant!

    But the short (but not as short as Spaceman's) answers to your questions:

    1) Bright Line timeframes refers to purchase dates, nothing to do with when...
  13. Have you ever sniffed your hands after handling...

    Have you ever sniffed your hands after handling large amounts of cash, especially coins or the old cotton bank notes? Some money smells terrible. Reason they call people Filthy Rich.

    Yeah, I get...
  14. Replies
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    Not sure in 2009, but certainly not today. Banks...

    Not sure in 2009, but certainly not today. Banks would take one look at someone with multiple credit cards and personal loans and decline further lending.
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    An excellent example! We have Zuckerberg saying...

    An excellent example! We have Zuckerberg saying exactly that.



    Not if you knew the future it wouldn't. Youd be finding places to do you margin lending (am sure it's much easier on US stocks),...
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    2,396

    I disagree here. I don't see a mental disjunction...

    I disagree here. I don't see a mental disjunction (is this a word? if so it's a good one). Don't get me wrong, I don't think people are stupid to rent - though I am sure some are, as are some...
  17. Without seeing your books I can't comment on the...

    Without seeing your books I can't comment on the tax you're paying. But 'never getting anything back' from IRD is indeed a good thing - it means you're profitable. You only pay tax on profits, and...
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    Poll: Only missed out on of the didnt invest the funds...

    Only missed out on of the didnt invest the funds elsewhere. If put into just about any property (preferably higher yield) he would have got some, all, or more than that gain.
  19. What you do with your income is up to you! But...

    What you do with your income is up to you!

    But from a tax perspective, personal debt is not deductible, so costs up to 50% more than equivalent interest rate deductible debt. Makes sense to kill...
  20. The obvious first step for me seems to be talking...

    The obvious first step for me seems to be talking to a mortgage broker. TSB has said no, but someone else might say yes. You need to get funding from somewhere - a bank, a second tier, family and...
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    I've always found the vendor bid setup very...

    I've always found the vendor bid setup very unethical. They can only bid 'up to the reserve' but nothing stops the reserve being set at $5M, does it? Vendor bids a potential purchaser up to $900k...
  22. For Australian tax questions, best speak to an...

    For Australian tax questions, best speak to an Australian accountant. But my non-expert understanding is that your NZ rental becomes subject to CGT based on the value at the date you become an...
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    I did not. I went in and bought a "managed...

    I did not. I went in and bought a "managed business" which was an absolutely terrible idea and has gone horribly. Trying to get out of it for months now and will end up having lost $100-200k.

    But...
  24. Grew up in Opaheke. Is a nice enough place. But...

    Grew up in Opaheke. Is a nice enough place. But there was at least one house on the street that was known to be selling weed. This was 15-25 years ago so may have improved or maybe they're into P...
  25. Sorry for slow reply, the forum only just...

    Sorry for slow reply, the forum only just notified me of your post.

    By other stuff I mean like if you have a residential property with a carpark, and decide to rent the carpark separately, and/or...
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