Saturday, May 15, 2021
Times of Georgia
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New Website To Hear Housing Stories


“A flood of stories about the likely impacts of new
interest deductibility rules has necessitated a
new website
to hear them all,” says ACT Housing
spokesperson Brooke van Velden.

“Labour’s interest
deductibility changes represent a stealth tax on Mum and Dad
investors, 80
percent of whom own just one rental.
The changes will
squeeze the middle class and hurt renters.

“ACT is
asking New Zealand’s 120,000 residential property
investors to visit act.org.nz/housingstories
and share what the new rules will mean for them and their
tenants.

“The NZ Property Investors’ Federation
estimates the cost to landlords who let out a $600,000 house
will be an extra $6000 a year.

“Some will sell up,
and those who choose to stay in the market will inevitably
pass some or all of that extra cost onto tenants, making it
harder for tenants trying to save for a home to build a
deposit.

“Almost 13,000 people have now signed ACT’s
petition
to reinstate the ability for landlords to
deduct mortgage interest from their tax
bill.

“Thousand of stories will be percolating
through the country as people get their heads around how
Labour’s stealth tax will hurt Mum and Dad investors and
their
tenants.”

© Scoop Media

 



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