New Zealand Property Investors' Federation

The NZPIF is the umbrella body for 17 local Property Investors' Associations throughout New Zealand.

(027) 357 9243

Federation Activities

NZPIF continues to challenge not being able to claim mortgage interest as a legitimate tax deduction

NZPIF has been working hard for nearly two years to achieve a change of the new rule that rental property owners can no longer claim mortgage interest payments as a legitimate tax deduction.  Here is record of the many actions which have been undertaken on behalf of NZPIF members.

Sharon Cullwick,

President of HBPIA 

NZPIF Executive Committee member for Central Region



On July 2021, Sharon Cullwick as NZPIF Executive Officer, forwarded a submission to the Deputy Commissioner, Policy and Regulatory Stewardship, Inland Revenue Department on the "Design of the interest limitation rule and additional bright line rules.  (Go here to read the submission )

 However, on Tuesday March 29, 2022, the Government passed the Bill which extended the Bright Line Test to ten years and removed the ability of rental property owners to claim mortgage interest as a tax deduction.


Andrew King, formerly NZPIF President






A second submission was forwarded to the Finance and Expenditure Select Committee on 26 October by Andrew King just before he resigned and went overseas. Read this submission here )  This one focused on the fact that Build To Rent developers were allowed to claim mortgage interest payments as legitimate tax deductions but the smaller private property investors were still not given this right.


Tim Horsbrugh,

President of Wairarapa PIA

NZPIF Executive Committee member for Central Region

On 7th of December 2022, NZPIF was represented by NZPIF Executive Committee member Tim Horsbrugh at a Select Committee hearing on this issue.  He reported:

During the questions the Select Committee probed the need for more long term leases. …….which is ok with us. However we believe policy should not be based on who your landlord is, ie not just BTR developers, as smaller investors can supply long term rentals too.  We pushed for Interest deductibility to be reinstated for all landlords no matter the size or scale. If its good enough for large BTR developers, it's good enough for smaller investors. More security of tenure was important to those on the Select Committee. We recommended don't play with tax policy just amend the RTA. Have fixed tenancies, periodic tenancies and then a third option called long term tenancies. The point was made that landlords want tenants to stay on long .term. However in most cases the tenants are the ones who want the flexibility to move out.  During questioning I also made a point that there are surplus properties on Trade Me available to rent, because many private landlords are risk adverse.  They are careful who they rent their properties to since RTA changes have made it very hard to terminate a tenancy when it goes wrong. Plus the fact that many social housing tenants have no desire to leave state houses when they only have to pay 25% of their income as rent.


Media releases have been

used to publicise NZPIF concerens

An Interest Deductibiity

calculator has been

developed for members              


Since July 2021, NZPIF has been actively supporting the need to change the design of the interest limitation legislation.  As well as face to face meetings with those with influence, there have been media releases on September 22, August 22, July 22 and December 22.  These are in the list of media releases on the NZPIF website and can be read here,

An interest deductibility calculator has been developed and is available to members in the Members Only area.  Those wanting to use it must first sign into the NZPIF website as a member.  This tool enables members to calculate how much the interest deductibility rule change will affect them each year.  

Having problems signing in as a member?  Contact Jan at for assistance.

How are members coping?


In March 2021, members were surveyed regarding the effect they believed the tax changes would have on them as rental property providers.  Using some of the same questions, NZPIF will survey members again early in 2023 to discover the actual effect these changes have had so far and will have in the future.  Results, with comparisons with the 2021 survey responses, will be published early next year.