Reserve Bank's Spencer calls on government to rethink tax status of housing investment

Wed, 15 Apr 2015

By Jonathan Underhill April 15 (BusinessDesk) - The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. Deputy governor Grant Spencer said in a speech to the Rotorua Chamber of Commerce that housing market imbalances "are presenting an increasing risk to financial and economic stability" in New Zealand, one of the few advanced economies that hasn't had a...

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