The Government's confirmed new builds will be exempt from planned changes to tax rules
The Government's confirmed new builds will be exempt from planned changes to tax rules
10 June 2021
Public consultation's now open on the proposals -- which will stop interest deductions being claimed for residential investment properties.
Finance Minister Grant Robertson says this is part of the move to cool the property market.
He says not including new builds and property development will help improve affordability for first-home buyers.
Consultation closes in July and the measures will be introduced to Parliament later this year -- but apply from October.
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