The Government’s interest deductibility plan is a compromise that reflects the current fiscal situation according to the Prime Minister.
Residential property investors are receiving less tax relief than National promised ACT in the coalition agreement, the interest limitation rule being phased out next financial year instead of this.
Luxon says this change is the mark of a “grown-up Government”.
The change, Luxon told Mike Hosking, was a result of inheriting an economy that was frankly, not in great shape.
He said that they want to do right by New Zealand and its people each and every time, and it means there's a slight change from the policies each party went to the election with.
But he thinks they’ve got to a good place.
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