Real estate investors to lose tax loophole from April next year

Wed, 28 Mar 2018

By Pattrick Smellie March 29 (BusinessDesk) - Investors and speculators will lose their ability to offset losses on residential properties to reduce their tax on other income from April 1 next year, if proposals in an Inland Revenue Department issues paper published today are adopted. Revenue Minister Stuart Nash issued the paper on 'ring-fencing rental losses', saying "persistent tax losses that many property investors declare on their investments indicate that they rely on capital gains to make a profit". The IRD paper says there is...

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