Parliament

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

Gordon Campbell: On The Uncanny Valley Of Tokyo 2020

For all involved, this year’s Olympic Games have called for a willing suspension of anxiety. For now at least, the displays of skill and agility have been compelling enough to muffle some of the previous misgivings about the wisdom of asking athletes from all corners of the world to converge in one place in the middle of a pandemic, and at the height of a Tokyo summer... More>>



ALSO:


 
 


Child Poverty Action Group: Poverty Burden For Children Increased Due To Government Neglect - New Report

Poverty, inequity, homelessness and food insecurity are among the burdens which increased for tamariki Māori and other children in the first year of Covid-19 - partially due to Government neglect... More>>

Government: Cabinet Accepts Turkish Authorities’ Request For The Managed Return Of Three NZ Citizens

Cabinet has agreed to the managed return of a New Zealand citizen and her two young children from Turkey, Prime Minister Jacinda Ardern announced today. The three have been in immigration detention in Turkey since crossing the border from Syria earlier this year... More>>

ALSO:

Government: Quarantine Free Travel With Australia Suspended

Quarantine Free Travel from all Australian states and territories to New Zealand is being suspended as the Covid situation there worsens, Prime Minister Jacinda Ardern and COVID-19 Response Minister Chris Hipkins announced today... More>>

ALSO:


NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>



Social Development: Government Initiatives Contribute To Fall In Benefit Numbers

Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels