Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
Parliament

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

 

Further Steps Needed To Unlock Build-to-Rent

Labour has finally heeded the calls of many in the housing sector to make it easier for Build-to-Rent houses to be developed in New Zealand, but more needs to be done to unlock its true potential, National’s Housing spokesperson Chris Bishop says.

“The changes proposed by the Government today are welcome, but they don't go nearly far enough,” Mr Bishop says.

“It has taken the Government five years to come up with a plan for the Build-to-Rent sector, and all they have done is exempt it from a new tax they themselves introduced.

“For the Build-to-Rent sector to be truly transformational, further changes are needed in the Overseas Investment Act and the Income Tax Act, which investors point to as a significant barrier.

“Nearly a year ago, National wrote to the Minister of Housing, Megan Woods, inviting her to take up my Boost Build-to-Rent Housing Bill as a matter of public business. Instead, they wasted months hosting endless workshops and talk-fests, and still proposed a plan that is watered down from National’s proposal.

“Labour can still go further, and help Build-to-Rent housing get off the ground by adopting my members’ bill.

“My Boost Build-to-Rent Housing Bill, addresses two key barriers:

  1. First, it would exempt Build-to-Rent developments from some aspects of the Overseas Investment Act 2005 in the same way as retirement villages, rest homes, and student hostels.
  2. Second, the Bill would ensure the Built-to-Rent properties are treated as a commercial building for the purposes of the Income Tax Act 2007
Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

“Build-to-Rent developments are an important part of housing markets in countries we like to compare ourselves too, such as the United Kingdom and Australia. It’s time New Zealand made itself more welcoming to this sort of investment as well, but the Government’s proposal only goes part of the way to truly unlocking this sector.

“Labour’s muddled thinking is holding back new housing. National would go further by removing all of the significant barriers to Build-to-Rent housing, not just the barriers Labour created themselves.”

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines



Gordon Campbell: On Dune 2, And Images Of Islam


Depictions of Islam in Western popular culture have rarely been positive, even before 9/11. Five years on from the mosque shootings, this is one of the cultural headwinds that the Muslim community has to battle against. Whatever messages of tolerance and inclusion are offered in daylight, much of our culture tends to be hostile to Islam when we’re sitting in the dark, with popcorn.
Any number of movie examples come to mind, beginning with Rudolf Valentino’s role (over a century ago) as the romantic Arab hero in The Sheik...
More


 
 


Government: One-stop Shop Major Projects On The Fast Track

The Coalition Government’s new one-stop-shop fast track consenting regime for regional and national projects of significance will cut red tape and make it easier for New Zealand to build the infrastructure and major projects needed to get the country moving again... More

ALSO:


Government: GPS 2024: Over $20 Billion To Get Transport Back On Track
Transport Minister Simeon Brown has released the draft Government Policy Statement (GPS) on Land Transport, outlining the Coalition Government’s plan to build and maintain a transport system that enables people to get to where they need to go quickly and safely... More

ALSO:

Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.