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 🏠
Donate blood at 65 Constellation Drive
Every single blood donation you give can save 3 lives. Blood is needed to help over 29,000 New Zealanders every year. Now there’s a new place you can go to donate blood and help people who need it. NZ Blood’s new donor centre at 65 Constellation Drive on Auckland’s North Shore is now open.
Book now to donate at nzblood.co.nz, download the NZ Blood App or call 0800 448 325.
Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
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73.1% We work hard, we deserve a break!
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17.4% Hmm, maybe?
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9.6% Yes!
Lost birds
Two lorikeets lost from Verran Rd Birkenhead Mon 8th Dec. Keeto (male) is tame and Jala (female) semi tame.
If you are able to catch them or spot them hanging around please message ! Thankyou
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