'Fair economic return' tax proposed to fix housing crisis

Author
Newstalk ZB,
Publish Date
Tue, 20 Jul 2021, 8:08AM
(Photo / File)
(Photo / File)

'Fair economic return' tax proposed to fix housing crisis

Author
Newstalk ZB,
Publish Date
Tue, 20 Jul 2021, 8:08AM

Researchers are calling for a new tax to bridge the gap between those who own property, and those who don't.

Tax expert Terry Baucher and retirement researcher Susan St John are proposing a new "fair economic return" tax across all residential property.

Money invested in property would be deemed to have provided a certain rate of return each year, regardless of whether that rate of return was actually realised or not.

Terry Baucher told Mike Yardley the current system isn't working and something needs to change.

“This housing crisis is eating our young, what we’ve been doing hasn’t been working, we need to try something else.”

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