‘Use of Infrastructure’ Tax for Overseas Investors
Authorised by: Emmett Hussey 3/5 Cruickshank Cres. Meadowbank Ph: 521 3190
‘Use of Infrastructure’ Tax for Overseas Investors & Wealthy New Immigrants
Foreign investors who own property in Auckland should pay an additional ‘Use of infrastructure’ tax on their annual rates.
The same applies to wealthy new immigrants who own more than one property; they pay a ‘Use of Infrastructure’ tax on any property over & above their first property.
It is Aucklanders infrastructure that they are getting the benefit of which has been built up by generations of NZers & they are virtually getting the use of that for nothing, as they have done very little or nothing to contribute towards it.
Overseas investors & wealthy new immigrants buying numerous properties is one of the prime causes for the rise in real estate values, which in turn has caused rates to rise, house insurance costs to escalate, & also the rise in real estate fees when you sell your property. These people have helped create this situation to a large degree so that should start paying the piper.
New immigrants were supposed to come to NZ to enjoy our life style, & the money they brought with them was meant to be put into business plans to create employment, not to buy numerous properties & take advantage of us economically.
This has absolutely nothing to do with race as it should apply to any overseas property investor or wealthy new immigrant whether from Australia, America, Asia, or Britain, etc.