Discussion:
Letter to the Guardian
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James Christophers
2021-03-31 05:27:10 UTC
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‘Fair and reasonable’

“I own several properties, and the new extended bright-line test and reduced tax benefits from interest payment deductions are likely to reduce capital appreciation of my properties, and will increase the operational costs of my rentals. Hence, the proposals are likely to adversely affect my finances.

However, I consider the new proposals are fair and reasonable, and should have been introduced a long time ago to address rampant property appreciation in New Zealand (I’m not a Labour supporter). Personally, I have lost motivation in buying more investment property and may consider selling some of my existing portfolio. Other investors are likely to be thinking the same.”

Bruno Royce, engineer, Auckland

https://www.theguardian.com/world/2021/mar/31/new-zealand-readers-say-housing-policy-shake-up-isnt-radical-enough
Tony
2021-03-31 06:11:08 UTC
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James Christophers <***@gmail.com> wrote:
‘Fair and reasonable’
“I own several properties, and the new extended bright-line test and reduced
tax benefits from interest payment deductions are likely to reduce capital
appreciation of my properties, and will increase the operational costs of my
rentals. Hence, the proposals are likely to adversely affect my finances.
However, I consider the new proposals are fair and reasonable, and should have
been introduced a long time ago to address rampant property appreciation in New
Zealand (I’m not a Labour supporter). Personally, I have lost motivation in
buying more investment property and may consider selling some of my existing
portfolio. Other investors are likely to be thinking the same.”
Bruno Royce, engineer, Auckland
https://www.theguardian.com/world/2021/mar/31/new-zealand-readers-say-housing-policy-shake-up-isnt-radical-enough
So there is one person who agrees with the government. Good on him. That is his
right and clearly his opinion.
However, there is a real question about what it is going to do for those
unfortunate enough to be renting. This government has yet to demonstrate that
is not a serious matter.
Any spin campaign from the government on this is not going to go down well.
They should be very careful.

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