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Property changes will undermine NZ's investment standing

Brent Melville
Wed, 28 Jul 2021

'Not competing with first home buyers': Kent Gardner (Image: Supplied)
Brent Melville
Wed, 28 Jul 2021
Scuttling tax deductibility on interest payments for residential investors won’t solve housing problems and could undermine New Zealand's international investment standing, BusinessNZ says.In a letter to Inland Revenue, Steve Summers, an economist with the business lobby group, said removing deductibility of interest represents a “significant change to New Zealand’s tax landscape," that will add complexity and is “against accepted practice” across the countries NZ compares itself to.The government’s...

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