"The NZ Property Investors' Federation (NZPIF) applauds the decision not to introduce a capital gains tax" said Andrew King, Executive Officer of the NZPIF. "This tax would have no effect on the housing market except to make rentals more expensive. This would be unfair on tenants".
We note that the Government is still considering looking at land banking and speculation. As rental property providers are not speculators, we maintain that the rental property owners should not be included in this investigation. Speculators buy and sell property but rental property owners hold property for the long term so that they can provide homes for tenants.