2021-03-31 05:27:10 UTC
‘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