Originally Posted by
SBQ
Brightline test is 10 years? (not 5) so technically not tax free capital gain.
I own enough real estate. It's a hassle, I mean it's not the rates but the maintenance factor. The worse would be being physical, it's a lot more difficult to move (sell). My retirement lifestyle of seeing the world. Say if I wanted to live in another country? Owning real estate to me is like having shackles on my ankles. It does offer the convenience of owning US shares (which are highly liquid to buy and sell). Not to mention easy to change tax residency status if I choose to say move back to Canada.
Then there's the option of putting it all in a trust. But then trusts have all sorts of issues ; you don't really own the assets and upon death, a lot of things can happen that may not work out how the trust was intended. Lawyers + accountants do charge a lot for trust administration. At the moment, the vast bulk of my wealth is outside of NZ where I intent to keep it out of NZ.