Selective reversal of mortgage interest deductibility does not benefit the majority of tenants

This is a link to the letter NZPIF wrote to Housing Minister, Megan Woods, on the day that large Build-to-Rent (BTR) developers were given even more incentives to provide rental property. We questioned why large BTR developers needed even more advantages and if this would actually help provide the housing that the vast majority of tenants need.

This is the reply from Minister of Housing Megan Woods

Minister Woods does not address the concern we have for tenants but confirms that removing interest deductibility for the vast majority of rental providers was to "remove the advantage that interest limitation provided to investors over first home buyers."

We will again contact the Minister to clarify what these advantages are as tax experts and her own policy advisers have rejected the new tax law that removes interest deductibility for most rental providers.

The NZPIF has drafted a submission on this topic. and we will provide it to you over the next day or two. You can also make a submission by going to the Parliamentary website here.

Friends and Family Campaign 31 October to 13 November

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