In recent years, interest rate, insurance, rates and other property costs have increased rapidly. Additionally, various changes in property tax law, such as interest limitation and ring fencing of tax losses, added another layer of complexity to property tax compliance (read more about the recent property tax law changes – Design of the new interest […]
On 10 June 2021, the Labour Government released a discussion document to seek public consultation over the next five-week regarding the new interest limitation and changes to the bright-line test rules. You can view a summary of the proposed changes here. Finance Minister Grant Robertson said the government’s goal for this proposal was to encourage more
Design of the new interest limitation rule and changes to the bright-line rules Read More »
With significant increase in house prices over the last year, Government has announced a number of changes to combat this. The key changes are: Removing interest deductions for residential rentals Extending the Bright-Line Test from 5 years to 10 years, and other changes for the main home exemption. Investing $3.8 billion into housing acceleration funds
Are you ready for residential property tax changes again? Read More »
