Moving forward

Question from Donna updated on 2nd June 2017:

My first property buying experience (with two other people) ended badly and resulted in a mortgagee sale. After years of paying off debt I managed to save and use my KiwiSaver to buy a very run down two bedroom cottage five years ago.

I worked hard to do it up and rented it out after I met my now husband. This was because we purchased a bigger home in both our names which we currently live in. I sold my cottage as I had so much equity tied up with all the renovations.

So my question is: What shall we do with the money? I really want to start investing in property. Also, will I be hit with a tax bill? I did claim GST on electricity, gas and R&M.

Our expert Kris Pedersen responded:

Firstly, get some tax advice in regards to your comments that you have claimed GST and how your tax position is likely to look.

In regards to your position and how best for you to move forward there are a number of factors that need to be taken into consideration - eg: relationship property, asset planning, tax planning, retirement planning, etc that would require advice from a number of experts with more information than what I have here to do you service.

Feel free to email me direct at and I can expand further as there is quite a lot you need to take into account.


Kris Pedersen of Kris Pedersen Mortgages is a commentator on property and finance. His team sources top finance strategies.

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