Govt tweaks tax treatment for build-to-rents

The 48 unit, build-to-rent Arc Onehunga is now fully tenanted. (Image: Arc)

Fri, 12 Aug 2022

Build-to-rent developers will be able to claim interest payments against their tax bills under an exemption on long-term rental properties.Housing minister Megan Woods said the tax law change, once passed, will have retrospective effect from Oct 1 2021 to builds of more than 20 units and will apply “into perpetuity” to new and existing build-to-rent (BTR) developments offering long-term leases.On Friday, Woods said to qualify, developments need to offer tenants leases of “at least” 10 years. She acknowledged that it'...

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