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 🏠
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.
Poll: Do you set New Year’s resolutions?
🎉 2026 is almost here!
We’re curious ... how do you welcome it?
Do you set resolutions, follow special traditions, or just go with the flow?
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10.3% Yes! New Year, New Me
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20% Yes - but I rarely stick to them
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69.8% Nah - not for me
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
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