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: Have you ever been bullied?
People associate bullying with children in schools, but it can actually stretch beyond childhood to workplaces or neighbourhoods.
This Friday is Pink Shirt Day, which began in Canada in 2007 when two students took a stand against homophobic bullying after a new student was harassed for wearing pink. People across the globe are now encouraged to wear pink on this day to take a stand against bullying and promote inclusivity.
Have you or your whānau ever experienced bullying? Share your thoughts on Pink Shirt Day below.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
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81.2% Yes
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18.4% No
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0.3% Other - I'll share below
What's On: Music Club - Club Night
Music Club - Club Night
- Takapuna Bowling Club
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