Hi all,
Apologies if this is a simple question as I am not too versed in all this stuff, but looking for some guidance if possible.
My wife, young daughter and I (all NZ Citizens) are moving to Brisbane very shortly from Auckland. My wife has an job lined up and starts in early September and i am finishing my work up here before heading over there in late September / early October (will be seeking employment once over there). While you never know what the future holds, we are treating this move as permanent as we want to be closer to family/desire a warmer climate.
We have a family home here that we have decided to keep and rent out in East Auckland. We have owned this property since 2010 and we have a mortgage. We jointly own this property under our personal names.
What advice should we be seeking re the move/tax? I understand that in the future (although it would definitely not be our intention) if we sell the property while living over there it would be subject to CGT? Would this apply to the increase in value from the day we moved over? The property has essentially doubled in value in the 9 1/2 years we have had it etc.
Once again any advice on what steps we need to take before leaving would be greatly appreciated.
Cheers,
Andrew
Apologies if this is a simple question as I am not too versed in all this stuff, but looking for some guidance if possible.
My wife, young daughter and I (all NZ Citizens) are moving to Brisbane very shortly from Auckland. My wife has an job lined up and starts in early September and i am finishing my work up here before heading over there in late September / early October (will be seeking employment once over there). While you never know what the future holds, we are treating this move as permanent as we want to be closer to family/desire a warmer climate.
We have a family home here that we have decided to keep and rent out in East Auckland. We have owned this property since 2010 and we have a mortgage. We jointly own this property under our personal names.
What advice should we be seeking re the move/tax? I understand that in the future (although it would definitely not be our intention) if we sell the property while living over there it would be subject to CGT? Would this apply to the increase in value from the day we moved over? The property has essentially doubled in value in the 9 1/2 years we have had it etc.
Once again any advice on what steps we need to take before leaving would be greatly appreciated.
Cheers,
Andrew
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