Buying a property with rental potential

[spid]

Here's one for you guru's out there. This is a question that has just popped into my mind. If we bought a property that had potential for rental income with it ? is that allowable for immigrants and what are the tax consequences?

[Taffy]

If you have permanent residency, then it's not a problem. Renting a house or a unit with a house would be classed as income, so you would be responsible for paying the appropriate tax. There's many different methods or channeling how you deal with rental funds, so it's really best if you speak to an accountant before thinking about it. But apart from how you wish to deal with the financial aspect, having rental property is fine.

[MotherBear]

Going one step further, I don't know whether you'll find anything of interest on this government housing site . There's a section about renting properties so you'll know what to expect.

[Ginabridget]

I've been told that there's no capital gains tax in NZ which is great, although apparently they are considering changing this.