Coalition Government Delays Interest Deductability Phase-In
The Government has announced that interest deductibility on residential investment properties will be phased back in starting from April 2024. This means that affected taxpayers will now be able to claim 80% of their interest expenses from April 2024, with the deduction set to return to 100% from April 2025.
This decision backtracks on the coalition agreement, which initially proposed 60% deductibility from April 2023.
Associate Finance Minister David Seymour stated, “Landlords have been hit hard by rising mortgage interest rates and increasing interest deductibility limitations, especially during these times of economic strain. These costs often get transferred to tenants, contributing to the soaring rental prices in New Zealand.”
In light of this policy shift, should we be wondering if the Brightline changes will be "amended"?
It is worth noting that changes to banks' servicing tests are expected, which could have a significant impact on property investment financing.
For independent financial advice tailored to your family or business, reach out to adviceHQ.
#InterestRates #MortgageRates #nzpropertyinvestor #advicehq 🏠
Help Needed: Peat, Straw, and Moisture Control for Tiger Worms in Castor Bay
Hello, neighbors! I’m in Castor Bay and currently caring for my tiger worms. I’ve encountered some moisture issues and am looking for materials like peat, straw, or anything that can help with moisture absorption. I’d also appreciate any advice on preventing clogging in the drainage pipe to ensure proper drainage. If anyone has extra peat, straw, or can share some helpful tips, I’d be really grateful! Thank you so much for your support, especially during the holiday season
Best wishes,
Diana
Witnesses sought in relation to mass disorder on K-Road Auckland
Police are appealing to the public for any footage they may have of the mass disorder that occurred on Karangahape Road in Auckland in the early hours of Sunday 28 December.
Emergency services were called to the disorder around 3.41am where it is estimated around over 50 people were present.
A Police investigation is underway after there were three serious assaults on and around Karangahape Road during the mass disorder.
A portal has been set up to allow the public to upload any footage they have of the disorder and the serious assaults.
The portal is https://dahr.nc3.govt.nz/
Police have arrested one person but are asking for help to identify and locate others involved.
• Around 4:15am there was a serious assault outside the Crown Bar on Queen Street.
A 33-year-old man received serious injuries and was hospitalised.
The offender is still unknown, and the Police file number is 251228/4647.
• Around 4:30am there was another serious assault on a Cobden Steet just off Karangahape Road.
A 27-year-old man received serious injuries and was hospitalised.
The offender is still unknown, and the Police file number is 251228/4462.
• Around 5am there was third serious assault at the Mobil Service Station on the corner or Karangahape Road and Ponsonby Road.
A 46-year-old man received serious injuries and was hospitalised.
A 21-year-old man has been charged with wounding with intent to cause grievous bodily harm.
He has been bailed to appear in court again on 16 January 2026.
The Police file number is 251228/4774.
Police would like to speak to anyone who has witnessed or filmed the assaults.
Witnesses can call Police directly on 105.
Please quote one of the above file numbers.
Scam Alert: Fake information regarding December Bonuses from MSD
The Ministry of Social Development is reporting that fake information is circulating about new ‘December bonuses’ or ‘benefit increases’
If you get suspicious communication, please contact Netsafe.
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