Revenue Minister: Interest deductibility rules to push investors towards new builds

Author
Newstalk ZB,
Publish Date
Wed, 29 Sep 2021, 8:13AM
David Parker. (Photo / NZ Herald)
David Parker. (Photo / NZ Herald)

Revenue Minister: Interest deductibility rules to push investors towards new builds

Author
Newstalk ZB,
Publish Date
Wed, 29 Sep 2021, 8:13AM

The Government is confident changes to property tax laws will give a leg up to first home buyers wanting to get on the property ladder 

The interest deductibility rules for landlords were released yesterday, and will come into force on Friday. 

Investors will be able to claim interest on new builds for up to 20 years, and owner-occupiers who rent rooms out, will also get the interest back. 

Revenue Minister David Parker told Mike Hosking the idea is that it will push investors towards new builds because we need more supply. 

"Less competition for people who are buying a house for their own occupation." 

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