Hi everyone I'm a small business employer and am currently employing someone who is going overseas. They wanted their last week of pay to be invoiced from their own GST registered company (he's usually on PAYE). They have just sent me the invoice and I have a question Let's say they are on 40 p/H PAYE. They have sent me the bill for the week of work for 40 hrs, $1600 all up BUT they have added GST on top of this sum, bring it to $1840. All I'm checking is whether this is correct as I'm abit confused, or should the $1600 be including GST? Thanks

I'm looking at purchasing a property off market, and the LIM report I've been supplied with does not list any dwellings on the site (in reality there are 3 on the site, all built prior 1992). The buildings show up elsewhere in council records, such as under property information on the council website, and under the precinct plan. We're working with a lawyer, but in the interim I would like to know if anyone else has experienced this? The property has been subdivided since the dwellings were constructed, so one explanation could be that the dwellings didn't transfer to the new LIM for the new lot. Any thoughts appreciated!

Hi everyone, thank you in advance for your time and help!

I was born in New Zealand, but my family moved to the U.S. when I was 8, and I’ve been here ever since (I'm now 29). My parents returned to New Zealand in 2016, but I chose to stay in the U.S. to finish college and start my career. I initially worked in operations management but later transitioned into software development, which I’d like to continue pursuing, though I could return to operations if needed.

My parents are getting older, and I’m tired of only seeing them for a week or so each year, especially as they’re finding it harder to travel to the U.S. The desire to be closer to them is my primary motivation for moving back. However, I’m naturally cautious about finances, and the idea of leaving my job and starting over in a new place that’s familiar to my family but relatively new to me is intimidating. I’m hoping to get some reassurance that my finances will be stable and that this move won’t be financially reckless.

A few things I already understand:

1. I’m aware that I’ll likely earn less in New Zealand and am prepared for that because being closer to family is my main priority.
2. I know I’m in a strong position by American standards, but I’m uncertain about how my finances will translate to the New Zealand cost of living, especially regarding retirement savings.

Here’s my current financial picture in USD

Salary 140k USD and wife makes 60k USD

Assets:

Home 278kish

My retirement accounts: 198kish

Wife's retirement accounts: 138kish

Cash in savings: 104kish (will take a hit from the cost of moving our dogs)

Brokerage investments: 41kish

Debts

Mortgage: 192kish

Wife's student loans: 42kish

Monthly credit card: 2kish

Roughly the net worth is around 525k USD or 870k NZD

We are going to move to the Wellington Region ideally to be closer to my parents and these are some of my questions:

1. I assume I am going to be ok but I just worry how ok I will be with the COL difference and lower salaries? We are going to rent for a couple of years to try to find an area we like and then settle down there and buy a home, the rule in the US is 25x your retirement income saved to retire is there a similar rule in New Zealand?
2. My parents have been telling me the job market is cooked right now in New Zealand, we are moving mid 2025 so I am hoping there is some correction there specifically in the software engineering space. My employer has already made it very clear I will not be able to keep my job when I move unfortunately.
3. In the new year I plan to reduce my 401k contributions from the annual max to just meeting my company match. Is there any reason I shouldn't do that? My thought is it would either be an early withdrawal penalty in the future or FIF in the future and the tax benefits won't be as high since I will only earn half my salary in 2025.
4. I will have to figure out FIF and the best steps regarding that after my 4 years of exemption come up and what the best approach would be but any recommendations of others experience would be appreciated.

Is there anything else I should consider financially for this move? Am I insane for even worrying? I over analyze and stress financials a ton so the thought of moving and then being jobless for a bit while searching and paying bills is the main source of worry I think.

My Mum is a New Zealand Citizen who is >65 years old and lives in Australia.

Mum was born in New Zealand and lived there until her mid 20s.

Is she eligible for the NZ pension?

I'm on a 5 year work visa and last month started a permanent role. One of the benefits is they'll match Kiwisaver contributions upto 4%. I obviously dont qualify for KS being on a work visa but they have offered to make the same contribution for a private pension should I find one that I'm eligible to create. Does anyone know a good private pension fund company that I'd be able to start with in my situation? I've done some research but couldn't find anything clear cut. Thank you.

I'm about to purchase my first investment property and I'm weighing the pros and cons of buying a low-range home vs a high-end one. My reasoning is that the rent difference between the two is relatively small, and I'd like to conserve funds for my next investment.

Has anyone followed a similar strategy? What were your experiences? Any advice or insights would be greatly appreciated.

Is there a point to using kiwisaver if I don't intent to retire in NZ? I have just arrived on a employer sponsored visa (5 years) and so far my plan is probably not to stay more than 10 years total. I make decent money (150k total comp) and I have a good saving. I could see myself buying a house (which I understand Kiwisaver also helps with?).

I have the option to opt out through my job.

Im looking at the idea of buy a new place with more space and ive come a across a property that suits my needs and as a bit of a bonus it also has a 2nd dwelling (with tennants that would like to stay on which i would be happy with). There is also the is another building on the property which the current owners have converted in to storage units and rent them out also generating a bit of income on the side.

I like the potential the property has and with the extra income in generates is a huge plus for me, but my question if i were to buy the new place with the extras mentioned should it be bought under a separate company or trust or can i purchase the whole place under my name and run a storage company under a company name?

My situation: I recently moved to New Zealand and want to get on the right financial path to plan for retirement here. I have been significantly risk averse with investments for most of my life because I appear to have terrible luck and only ever lost money in the market casino (large investments right before the 2008 and 2020 market collapses). My portfolio is: 50% property, 35% term deposits, 10% savings, 5% stock market.

My concern: With interest rates coming back down, I have no idea if what I'm doing is going to be enough to get me to retirement or if I need to change my strategy.

Does anyone have a good recommendation for a professional financial advisor in New Zealand?

What made the experience particularly good?

I've been doing some CFD trading over the last few weeks. The good news is that I've made a lot of money, but the bad news is that I'll now have a massive tax bill. Anyone know any tips and tricks (nothing illegal) to bring it down?

I haven't yet withdrawn the money into my bank account, if that makes any difference.

Hello, sorry I am new to investing and just wondering which is the best option for long term investing, likely foundation series US 500 or world. I am not sure how this works and not sure how these funds that have companies that pay dividends work.

Thank you.

Hi can someone check my maths for me please. Looking to get a new credit card with Kiwibank, previously had the Platinum Airpoints for many years but my spending has reduced with my wife and I separating and I don’t think it’s worth it any more.

I estimate I’d spend a maximum of $2000 a month on a credit card (weekly budget of $200 for food and $300 for bills and not all go through credit card). Low Fee Airpoints earn rate is $1A for every $200 and fee of $25 every 6 months, Platinum is earn rate of $1A for every $115 spent and one Status Point for every $200 spent and a fee of $90 every 6 months

So if I spend $12k every 6 months on the Low Fee I’ll earn $12,000/$200 = $60A and pay a fee of $25 so $2.4A per $1 of fee. If I go Platinum I’ll earn $12,000/$115 = $104A and pay a fee of $90 so $1.16A per $1 fee

So Low Fee is better choice right?

Not another ‘what fund do I set up for my kid’ question I promise.

We’re looking to set up a fund for our 9 month old (probably Simplicity Growth or very similar).

I can’t decide whether the tax benefits of setting it up under her name outweigh the risks - I’d much rather it was in our names so we retain some control over its use and can veto any dumb decisions made by an 18 year old without a fully developed brain.

I’d be interested to hear others thoughts on this - are investments for your children in their own names?

I currently have most of my portfolio in the Smartshares Total World Fund ETF.

As I'm getting closer to being within 10 years of retirement, I'm thinking about a bond ETF as well. Looking through the different options Smartshares has (https://www.smartinvest.co.nz/funds-and-performance/etfs/bonds-and-cash), I'm not sure which one to pick.

Any thoughts on whether to go NZ vs Global, corporate vs govt? Or are they all pretty much similar?

All things considered, would you recommend for a retired high net worth individual ($5M+) to retire in NZ or Australia from a purely financial standpoint? NZ has the FIF tax whereas Australia has CGT. Pension in NZ is universal (for now) whilst in Australia it is means tested. House prices in NZ are considerably lower. In which country would a HNW retiree be financially better off? Has anyone done the research and come to a conclusion?

EDIT. Just want to thank everyone for taking the time to share their comments. Overall both Australia and NZ are great places to live with a high quality of living. From a financial perspective there’s not too much to separate them but I think NZ has the edge. No CGT (at the moment), NZ Super is universal and not taxed, house prices are a lot lower and there’s no stamp duty. Obviously this is point in time as things can obviously change as governments come and go.

https://preview.redd.it/xgkldnlu5qzd1.png?width=651&format=png&auto=webp&s=471980f1ce515a0c1ffa6ac1e6b6a9b8334e24f6

cant believe we are almost at the end of our mortgage after almost 19 years

I went on my banking app and if we increased out payments to the max we could have it paid off in 7 months but we likely wont do that thats like an extra $500 a fortnight

I've been investing for quite a few years now, mainly in ETF's. I thought i'd have a go at swing trading on sharsies.

Woke up this morning at 3:30am to sell shares i bought yesterday at 6:00am but for some reason sharsies won't let me sell, is this because you can only sell during business hours on sharsies? Apologies if i'm being completely silly, i've always invest and forget and i'm new to swing trading.

If this is the case, are their any recommended brokers for swing trading? Ideally a broker I can transfer a portion of my portfolio too. I mainly want to trade in the US markets.

Hello Team

I left NZ halfway through the year and am living in Portugal now, I mistakenly thought we had a Double Tax Agreement (DTA) with them (foolish I know) upon moving. I can live here legally through an EU passport and plan to stay a while. Just concerned now about my tax situation for this year

Long story short, I was salaried in NZ and upon leaving I started freelancing for NZ clients which is still my source of income (paid into my NZ account). I will have to pay tax in Portugal who's tax year runs Jan-Dec but wondering where on earth that leaves me with NZ Tax obligations

I will consult professional help but just curious if anybody has any tips/pointers/helpful comments, Cheers

A car of mine was crashed into while street parked this week and I don't have insurance on the vehicle. The other driver is at fault, is ok, has taken full responsibility and is fully covered by AA. The car has been in the care of a relative in a different part of the country to me at the time of the accident occuring and the car was taken away by a local towing company to their compound. I've obtained photos of my car and the damage is fairly severe (looks structural imo). Talking with AA they have advised me that the next step is for their assessor to see the car and make the call on whether it'll be repairable or a write off (Most likely going to be write off). The car is wof'd and rego'd well into 2025.

If it is a write off what can I expect? I assume the valuation is another process which may take a while. I've never been in this situation before and after anyone elses experience. Was their market value offer fair? What was the entire timeframe of the whole process etc. Thanking anyone who shares their experience.

Hi all, i have never had a loan for a car before any recommendations or tips? Its not for something stupid, I’m old enough to have renewed my licence.

Hi all,

I’m currently in the process of applying for a mortgage. Essentially I’m only left with likely Westpac (potentially ASB) that I’m likely to be able to get a mortgage with in the circumstances.

I’m wanting to know what peoples experiences are with Westpac - particularly whether they’re willing to cover legal fees (as I understand banks will do from time to time).

Would love to get anyone’s thoughts/experiences.

A little bit of context: I've had pre-approval for a mortgage for a little over a year, getting it updated every 3 months or so as needed, while looking for a house. Since my last pre-approval I had a change in circumstance where a family member offered to add to my deposit as a gift, with the expectation that it is paid back when I sell the house (as per ANZ's gifting article below).

https://www.anz.co.nz/banking-with-anz/financial-wellbeing/articles/life-events/help-kids-buy-a-house/

I made an offer, got it accepted (after a lot of negotiating), and sent my mortgage broker all the relevant information and the signed S&P on 24/10 (with a bit of back and forward for questions and answers etc). They sent me an email with the banks response two days ago and it had a lot of concerning information in it:

1. They noted the property was acceptable but the purchase price they referred to was the value I had provided as an estimate for my maximum purchasing power rather than the actual negotiated sale price. This value is lower by more than $100k,
2. They said their acceptance was subject to approval of the final S&P, which they should have received 2 weeks ago.

I go unconditional on the 14th, and while I thought I'd given them plenty of time, I'm now concerned that I am not going to have finance approval, which means I would have to retract my offer. I've mentioned this to them twice and asked if they have any concerns that we won't meet the deadline and they've ignored the question.

Is there anything I can do outside of contacting my mortgage broker again? If I call the bank would they be able to update me on the status of my application, or do anything to ensure I get my finance approval on time?

I suppose additionally, if it all goes to shit and I can't purchase this property due to my broker not doing his job, do I have any avenues to recover financial losses (LIM costs, builder inspection, extra moving costs since I've given notice to end my tenancy)?

Hey everyone,
I've been bouncing about different countries on travel visas for the last 1.5 years. (EU + Asia) Not currently working, but will likely pickup another remote job and do the digital nomad thing again soon. No intention of coming back to NZ anytime soon to live. I figured I'd try and get my kiwisaver out if possible, as a funds boost would be super useful.

Has anyone had any experience trying to process a kiwisaver withdrawal from a similar situation, without a fixed address, on travel visas? I've been staying in hostels, airbnbs, and hotels mostly.

Cheers!!

Kia ora PFNZ. I posted here 2 years ago on advice for saving for a house deposit on a low income and updated here 1 year ago. Another year has passed, so I thought I'd update again on how I'm doing.

• Income: 91k
• Savings: 140k (emergency fund, kiwisaver, deposit savings)
• Debt: 20k student loan

Despite some real shit that's gone down in the past year, I've been extremely fortunate overall. I've begun looking for a house casually, although no luck so far and I can't say I'm in any rush to buy.

Takeaways and helpful bits:

• Tracking my net worth every month for the 3rd year now, and I still highly recommend this habit.
• Allocating my pay to all my different the day it comes in (paying yourself first), and giving myself a spending allowance every fortnight.
• Limiting FOMO and overthinking by limiting what I read on online - while researching how to buy a house, it got to a point where I had learned all that I could from other people's experiences, and random internet reckons about the "market going up soon" blah blah blah were more harm than help.
• I've realised that many people my age (late 20s to early 30s) who come from less privileged backgrounds have bought into the belief that it's impossible to buy a house these days, we've all been priced out unless you've got rich parents or an inheritance, you need to have 2 incomes, etc.
• If I just listened to what people said, I never would have even tried as a single buyerwith a salary under 6 figures. I didn't realise just how close I was until I ran the numbers for myself. You might be closer than you think.

My goals for the next year are to keep doing what I'm doing, and with some luck my next update will be as the owner of my very own little home.

Hi peeps! I saw a listing of one of the apartments on 147 nelson street is listed for sale for less than $500,000. Just wondering if anyone has any experience in apartment investing in general or know more about this building? Or should I save up to buy a unit/house instead? The main reason for me to consider buying an apartment is my family members travel from overseas to nz now and then and they really enjoy the convenience of the city and I can use it as an airbnb when they're not in town. Any thoughts? TIA

As title; is it possible to have mortgage payments direct debited from a credit card and earn the points off it?

TIA

I'm struggling to see this as anything other than a red flag.

I know trademe is often utilised in ways to get lower bracket buyers interested (i.e. listing the search price as lower then they intend it to go for, to reach a wider audience), and in this case it's listed roughly $50k below what the CV was in 2022 (which was $500k).

But.. the house is noted as having been sold twice this year, once in May and once in August - $250k in May, slightly higher at $275k in August. I notice consent was issued in 2022 for drain work ("construct foul drain"), and worry that something was unearthed during the process that might be problematic... but I'm a FHB and don't know what I don't know!

Any reason that this would be anything other than a red flag for a potential buyer? I see that the mortgage was paid off in full earlier this year, looking at the title history. Unsure if that plays into it too - could it be potentially changing hands between relatives, or some other less-problematic reason? I'm wary but going to the open home in the next week with a builder friend, with a view to get a LIM and builders report if I decide I'm more serious.

I'm also unsure if this is a good sign that I should offer lower than the CV. Neither of the sales earlier this year were listed with real estate agents, it hasn't been advertised (I'd have seen it - have had eyes on the market in my area for over six months now) - so private sales both.

Loaded up my sharesies with 1k just for some fun, what kinda strategies are people using to find a good stock, just having a play around to see if it's somthing il continue doing, any tips or tricks will be greatly appreciated youtube seems to be just click bait videos

Just got paid for annual leave taken. Was expecting a much higher rate as I’ve picked up extra days thinking this will bump up my average…must have worked all the Saturdays the past 2 months. We’re rostered Monday-Friday. When payslip came they used AWE as opposed to OWP. HR reasoning is that OT has to be “regular” for them to use OWP. Had OWP been used to calculate my pay rate I would have gotten a few hundred $$ more. Anyone care to enlighten me on “regular overtime” please 🙏