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 🏠
Poll: Are swear words no longer?
In 2023, Apple amended its autocorrect function to allow Iphone users to freely use their intended word without mentioning 'ducks'. Is this a sign of the times? Are swear words no longer taboo in our communities or workplaces?
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
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20.4% Yes - swear words don't phase me
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48.9% No - it's still inappropriate to swear
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29.9% It's depends on the word
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0.7% Other - I'll share below!
Sunshine state of mind
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FREE ENGLISH CONVERSATION GROUP 😁 Mairangi Bay Presbyterian Church, 8-10 Penzance Road, Mairangi Bay
Welcome to our free English Conversation Group on every Wednesday 1pm - 2.30pm at Meeting Room 2. 😊 Join us for fun, laughter & new friendships. Learn new words or practice some old ones. Everybody welcome! We had a fabulous turnout last week...25 students! 👍 Easy parking. Entrance is 8 -10 Penzance Road. Mairangi Bay. See you there! Cheers Helen😁
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