PHOTO: The government faces ongoing warnings of a rental property crisis as a consequence of its plans to “ring fence” tax losses. Source – Roberts Property
The Property Institute of New Zealand is making the claim today as a white paper proposes that the costs associated with owning a rental property, including interest, rates, insurance, maintenance could no longer be offset against other income as has been the case for many decades.
Institute chief executive Ashley Church is warning of an exodus of landlords from the property market.
He says the plan to “ring fence” property tax losses will significantly worsen the shortage of rental accommodation in the largest cities.
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