Vote ACT to keep residential property investment

Dr Muriel Newman
Tuesday, 12 July 2005
Speeches - Other

Speech extract to Auckland Property Investors Political Forum, Ellerslie Racecourse, 7pm Tuesday July 12.

ACT Deputy Leader and Housing Spokesman Muriel Newman today urged property investors to vote ACT at the next election if they want to see residential property continue as a good retirement investment.

Since 1999, Labour has failed to recognise the important role that private property investors play in housing the nation. They provide most of the houses for those New Zealanders who don't own their own home.

Labour is hell-bent on penalising them; by bringing in capital gains taxes by stealth, introducing 'death duties in drag' on estates comprising rental property, changing laws to favour tenants and disadvantage landlords, reducing depreciation allowances for residential dwellings and undermining the rental market through income related rents and generous inducements to organisations for pensioner, student and third sector housing.

Labour has treated private landlords as the enemy instead of acknowledging they are small business people engaged in providing rental accommodation.

ACT will support property investors by lowering income taxes to 15 cents up to $38,000 and 25 cents above that, lowering company tax to 25 cents in the dollar and reducing compliance costs that are crippling small business. ACT will also vigorously oppose any move to introduce a capital gains tax.

These measures will help create over 4 percent economic growth and substantially lift New Zealand's standard of living.

During its time in Parliament, ACT has fought hard to protect the rights of property investors, helping beneficiary tenants to have their rent paid directly to landlords and forcing the Government to ensure court orders are served on beneficiary tenants.

If you believe it's time to change the government you must give ACT your Party Vote.

Under MMP, no one party can get 50% and National will need a batting partner. Don Brash has said he doesn't want New Zealand First or United because they have said they might vote for Labour.

ACT is the only party National can rely on to form a government.

ACT understands business, property investment, and tax and would keep National on track.

That's why Property Investors should give ACT their party vote.

ENDS

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