Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


National Will Reverse Interest Deductibility Changes

The arrival of the belated interest deductibility and Brightline rules discussion document brings with it confirmation of what an unprincipled mess the proposed legislation is, National’s Shadow Treasurer Andrew Bayly and Housing spokesperson Nicola Willis say.

“National oppose the Government’s ill-advised approach to dealing with the housing crisis and, in fact, argue that these measures will contribute to further housing challenges,” Mr Bayly says.

“We know investors and landlords have a role in New Zealand and the demonization of this small group of people is bizarre and divisive behaviour from the Government.

“We urge property owners to share their views on interest deductibility and Brightline changes despite the short timeline Housing Minister Megan Woods has allowed consultation.

“It is astounding that Finance Minister Grant Robertson would be so cavalier about breaking the fundamental rule of tax which is: tax profits, not revenue. It is no wonder that property owners feel the rug has been pulled out from under them.”

National’s Housing spokesperson, Nicola Willis, adds that it is incredibly cynical of this Government to exempt themselves from these changes by allowing interest deductibility to continue in regards to Kāinga Ora houses.

“It is one rule for thee and one rule for me with this Government,” she says.

“Minister Woods’ own advisors cautioned her that these changes could increase rents, impose additional costs on lower income tenants, and increase reliance on state and emergency housing, but she ploughed on ahead anyway.”

Mr Bayly says: “I want to be clear that National oppose these changes”.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Covid-19: Covid Alert Level 2 in Wellington till the end of the week

The Wellington region will move to alert level 2 from 6pm tonight until 11.59pm on Sunday.
The announcement comes after a person who travelled from Sydney to Wellington tested positive for the virus upon their return.... More>>



Environment: Bringing Back The Health Of Hauraki Gulf

New marine protection areas and restrictions on fishing are among a raft of changes being put in place to protect the Hauraki Gulf for future generations.
The new strategy, Revitalising the Gulf – Government action on the Sea Change Plan, released today... More>>


NZ First Returns: Winston Peters - AGM Address

Ladies and gentlemen, it’s a pleasure to be in Auckland for the 28th New Zealand First Party Conference. It is our intention and mission to remain the most successful political party outside of National and Labour in the last three decades... More>>

Government: New Members Appointed To Waitangi Tribunal

Minister for Māori Development, Hon Willie Jackson, today announced the appointment of three new members to the Waitangi Tribunal and the reappointment of one existing member to the Waitangi Tribunal... More>>

NZNO: Nurses Reject DHB Offer And Confirm Strike Action

The New Zealand Nurses Organisation says its 30,000 members who work in DHBs have voted overwhelmingly to reject a second offer in their current round of multi-employer collective agreement (MECA) negotiations... More>>





InfoPages News Channels