Land sections in Melbourne suburbs

[Don't believe the Hype]

yeah... that's why I left... the tax was over the top. If you're a low earner in Aus you're better off than in NZ... once you get to a certain level of income you're better off in NZ from a tax POV

52% marginal tax rate, then GST then stamp duty then land tax and CGT applicable to your world wide assets i.e. living in Aus any growth in your NZ properties attacted a GST in Aus... which is applied at 50% of the gain added to your income in the year of sale so if you're already paying 52 cents in the dollar in the year you sell your gain is taxed at 26 cents in the dollar.

NZ by comparison... highest marginal tax rate 30% but to be fair you get to that level faster... higher GST but no Stamps, land tax or CGT

[Nick G]

and better beer

[donna]

and better beer

and wine (notably white wine and pinot noir)

+ less wildlife that kill ya.

I did end up with an OTP apartment in Melbourne many years ago. I did okay with it in the end but there were surprises at settlement and the apartment block sent a few purchasers with multiple units to the wall. It's not new, always thwart with undesirables preying on the naive and I doubt there's been much change in the practice over the years.

cheers,

Donna

[LifeBroker]

In 2008, this happened in NZ because of Lehman's going bankrupt. Ie an external factor.

Could it happen again? We are seeing massive issues playing on the world stage between China and USA. USA is booming, while China is feeling the heat. Will this be a trigger that will influence NZ?

With current government, we have (I can confidently say) an internal factor. 1) foreign buyers ban 2) CGT tax affect have all but eroded business confidence.

Are we seeing things slowing down in NZ? Recent article on stuff headline suggests so.
Home owners sell at a loss in Auckland, Hamilton and Christchurch