Why NZ ???

Old Jun 16th 2010, 12:12 pm
  #61  
 
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Default Re: Why NZ ???

Originally Posted by Garbanza
We were going to invest in a rental property along with other friends there before we left, but No.2 son came along as so that plan went out the window. The setting up of a business here would be something you should definitely thoroughly research, we know for a fact that you have to pay tax on your own stock at the end of the financial year, much like the States. A bit of a shock as it's your own bought stock. It might be an idea to start a thread re: starting your own business. Another thing I miss is the huge choice of soft furnishings and anything to do with interior design stuff. We bought up large on quite a few things like large silver mirrors, glass chandeliers, paintings and prints some of these things you can get here but so much more expensive. Depending on whether your taste in clothes or shoes are expensive I would have bought more shoes and clothes including lingerie as they are dear as well. I just remembered custard squares which were a favourite of mine. A cuppucino is now just over $5 so you won't get much change out of $10 for a coffee and a cake. Join a library as books are expensive as well.
I own a rental property and it pays for itself. It's in a Limited Company LAQC.

I also started my own business 9 months ago and was 2 months away from expanding into a high profile office and moving the business forward big time. Then my estranged husband hit me with an ultimatum that has made me rein the business in and basically put it on hold. But, I know already, that every $ I earn in NZ is taxed. Whether you're self-employed or employed.

Clothes, shoes, coffee ... if you can afford them then surely you buy them, if you can't then surely you don't.
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Old Jun 18th 2010, 6:09 am
  #62  
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Default Re: Why NZ ???

Originally Posted by Am Loolah
I own a rental property and it pays for itself. It's in a Limited Company LAQC.

I also started my own business 9 months ago and was 2 months away from expanding into a high profile office and moving the business forward big time. Then my estranged husband hit me with an ultimatum that has made me rein the business in and basically put it on hold. But, I know already, that every $ I earn in NZ is taxed. Whether you're self-employed or employed.

Clothes, shoes, coffee ... if you can afford them then surely you buy them, if you can't then surely you don't.
You will no doubt be spewing then at the changes in the last budget effectively removing the major tax breaks that used to exist with an LAQC? According to my accountant anyone with up to 4 rental properties is going to be worse off big time; that's not even mentioning depreciation and changes to family tax credit (whether or not you agree with how the system was or now will be regarding people who hide their income in LAQC's to claim a lower income and therefore claim family tax credits).

I am delighted for you that your rental property pays for itself. If you bought a few years ago that was indeed very possible; now however you would be very hard pushed to get a place to pay for itself. Raising finance would also be much harder than before with many banks wanting up to 30% deposit to give you a mortgage for a rental.

Regarding your confusion regarding tax you are maybe not aware that in the UK you have an allowance which is NOT taxed. Yup you heard right that means zero tax. We do have capital gains but I doubt it will be too long before New Zealand copies that one too?

You are right that if you can afford something you buy it and if you can't you don't I was just trying to give a heads up that things are not that cheap over here.

If you have something you want and you are bringing a container then fill it up as the choice is more limited here as you know and if you buy it in NZ it will cost you much more.

My husband buys most of his bicycle gear from www.wiggle.co.uk as even with carriage to NZ it works out at the same price as his local bike shop pays wholesale in NZ add the 100% or so mark up and you do the maths!! ;-)
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