willsken
28th May 2006, 02:02 AM
We are needing advice on capital gains tax. Anyone know anything about how to avoid it (within the law of course!) ;) We are going to see someone but I just want to know a bit more before we go. :o
Cardiff Irons
28th May 2006, 05:57 AM
Hmmm. Know a little bit Nicola. What's the problem? PM me if easier.
Wannaway
28th May 2006, 09:55 AM
I work in tax, PM me with your questions and I'll be happy to see if I can help.
Wannaway
Wannaway
willsken
7th June 2006, 11:47 PM
Just an update
Well it seems that after going to an accountant we are going to be stung for quite a lot of tax and the only way to avoid this is to keep one of out rental properties in the UK. It means we have to keep it until at least April 2007 and then sell. If we do this we can't return to the UK to live for 5 years. The kind of tax bill we avoid by doing this means even if I hate living in NZ I really really won't be coming back to the UK anytime soon!
I'm gutted as I really wanted to take all my money with me. The exchange rate when we go in October/December is predicted to be good - will this be the case late next year? (which is when we will have money by the time it sells).
Could have worse problems I suppose. :(
Well it seems that after going to an accountant we are going to be stung for quite a lot of tax and the only way to avoid this is to keep one of out rental properties in the UK. It means we have to keep it until at least April 2007 and then sell. If we do this we can't return to the UK to live for 5 years. The kind of tax bill we avoid by doing this means even if I hate living in NZ I really really won't be coming back to the UK anytime soon!
I'm gutted as I really wanted to take all my money with me. The exchange rate when we go in October/December is predicted to be good - will this be the case late next year? (which is when we will have money by the time it sells).
Could have worse problems I suppose. :(
Cardiff Irons
8th June 2006, 03:08 AM
The exchange rate when we go in October/December is predicted to be good - will this be the case late next year? (which is when we will have money by the time it sells).Might be even better by then. :)
Howie
8th June 2006, 07:48 AM
I also have a capital gains tax question. We have tax sheltered retirement savings (which doesn't seem to exist here) in both Canada (RRSP) and USA (401K). Are we going to have to pay tax on the captial gains?
willsken
8th June 2006, 08:14 AM
Might be even better by then. :)
My cup is half empty!!! :roll
My cup is half empty!!! :roll
willsken
8th June 2006, 08:17 AM
I also have a capital gains tax question. We have tax sheltered retirement savings (which doesn't seem to exist here) in both Canada (RRSP) and USA (401K). Are we going to have to pay tax on the captial gains?
I can't answer the question in relation to the US or Canada, but NZ doesn't have capital gains tax. If they did we would have to have paid it to them. So thats a positive. :D
I can't answer the question in relation to the US or Canada, but NZ doesn't have capital gains tax. If they did we would have to have paid it to them. So thats a positive. :D
© emigratenz.org. All Rights Reserved
vBulletin® v3.7.0, Copyright ©2000-2008, Jelsoft Enterprises Ltd.