âWilliam Rees was so given to extolling the mountains and lake it became known among his friends as the âPromised Land Of Rees.ââ Seams of the precious metal have long run dry but golden days are far from over for William Reesâ promised land. Lauded as one of the most remarkable places on earth, Queenstown delivers to its resident population the cultural dynamics, social and sports activities, and educational and employment opportunities of a thriving community, made all the more appealing by its alpine environment.
Q U E E N S T O W N . N Z
Tourism New Zealand is a country of unsurpassed natural beauty. There are few countries which can compare in geographically diversity â fjords, rugged mountains, picturesque farmland. This image has been taken worldwide with films such as The Lord of the Rings trilogy shot around New Zealand. New Zealand is viewed as a âsafeâ destination for tourism with substantial numbers of American and European tourists visiting annually. Queenstown is widely regarded as New Zealandâs premier tourist destination. Itâs reputation as the adventure capital of New Zealand is already well established, with an incredible range of activities offered to tourists throughout the year. Situated on the shores of Lake Wakatipu, Queenstown is surrounded by the Remarkables Mountains in the snow-rich Southern Alps of New Zealandâs South Island. New tourism opportunities include a rapidly developing reputation as a hub for wine tourism in the Central Otago region. Queenstown currently achieves 1.4 million visitors per annum, comprising 60% international and 40% domestic visitors. Overseas visitors are forecast to increase by 6.3% between 2003 and 2009. (Source: Tourism Research Council). This could mean more than 3 million visitors a year by 2009. It is expected that the future accommodation market in Queenstown will be made up of 60-70% of free independent travellers – ie; those who donât want to be part of a tour group and are prepared for both longer stays and to pay more for apartment styled accommodation.
Air Travel Air New Zealand and Qantas now fly directly between Queenstown and the Australian east coast with scheduled midweek and weekend flights. Nationally, Singapore Airlines, Emirates, Asiana, Royal Brunei and Pacific Blue all operate scheduled services into and out of New Zealand. The increase of competition has driven both trans-Tasman and domestic flight costs down dramatically. As an example of growth, Emirates has announced 6 flights per week to Christchurch from Melbourne commencing August 2004.
Lifestyle Queenstown enjoys both warm summers and great winter skiing making it an all year round resort. The large number of tourists means the town never sleeps – there is a year round international buzz to Queenstown making it a must see destination for both Kiwis and international tourists. Those visiting can enjoy endless activities such as golf on a number of international quality golf courses, hiking, skiing, adventure sports such as bungy jumping, paragliding, fishing, restaurants and quaint towns such as Arrowtown to name a few.Â
No Capital Gains Tax: Unlike Australia or the UK, New Zealand has no capital gains tax. Wealth, profit or estate equity created through personal or business investment is not taxed.
No Land Tax: The Government does not tax owners on the value of their land.
No Stamp Duty No Financial Transfer Taxes: Unlike Australia, the New Zealand Government does not tax the transfer of funds through the banking system.
No Wealth or Death Duty: Unlike many other countries, New Zealand has no taxes on wealth. Inheritances on death can be passed to beneficiaries without death duties applying.
Personal Tax Rate: New Zealand has low personal tax rates compared to the western world.
Extensive Tax Deductible Expenses: In New Zealand there are a multitude of tax deductible expenses. Most notably, the interest incurred on money borrowed for financing rental properties including managed apartments is fully tax deductible. Other tax deductible expenses include legal fees relating to the purchase, arranging a mortgage and committing to the managed apartment agreement, rates and insurance, repairs and maintenance, management and body corporate fees, accounting fees.
Sustained Market Growth New Zealand has had a sustained residential property growth of 10% per year compounded for the last 50 years.
We strongly recommend you consult your accountant and/or financial advisor to ensure the applicability of these financial advantages to your interest. A separate tax view is available to assist if required.