Property

Brightline test reform ‘worse than doing nothing’: Treasury

Pattrick Smellie
Thu, 25 Mar 2021

Treasury unimpressed by govt's housing plans.
Pattrick Smellie
Thu, 25 Mar 2021
The Treasury rated the government’s bright-line test reforms to dampen house price inflation as “worse than doing nothing”.The regulatory impact statement published with the tax changes rushed through Parliament under urgency on Tuesday evening and Wednesday morning finds the policy “better than doing nothing/the status quo” on just one of eight criteria.It suggests the policy is likely to increase rents.In the same document, the Inland Revenue Department worries the exemption from the test for newly constructed ho...

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