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Buying a property in Australia as NZ citizen working in NZ

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Alexia | 01 Jan 2014, 04:36 PM Agree 0
I am NZ Citizen and looking to buy a property in Australia as a second home *for holiday mostly. I am working in NZ and have already a mortgage on my principal home.
I would like to know the following if you can assist:
- Do we get a mortgage from Australia bank or is it from NZ banks ? while the salary / incomes coming from NZ
- Are the rates home loan different ?
- Are we exposed to tax of any types ? (we are not looking for renting it)

  • Don Nicolussi ( Home Loan Warehouse ) | 06 Jan 2014, 02:39 PM Agree 0

    Having owned property in both NZ & OZ and being a mortgage broker and can be of some assistance. First, you would obtain finance or your bank loan for the new property in the country the security is held in ( so in this case you would get an Australian bank loan).

    Secondly, yes you will be able to use your NZ income to service the loan here in OZ.

    Tax - although I know most of the answer to this question I am not an accountant so perhaps one of the accountants on the forum can help with this.

  • Mark Coburn | 03 Mar 2014, 05:18 PM Agree 0
    Hi Al,

    As Don as stated, you can and it is not an issue. You will need a 20% deposit and you may need Foreign Investment Review Board approval which would mean you are restricted to buying new build properties.
  • alastair602 | 16 Jun 2014, 07:00 PM Agree 0
    The above information is very helpful to let the people know about buying the property in New Zealand.
    This is a very fine discussion about the buying and property investment in australia.
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