Rental property investors will be in the gun under a future Labour government, with the party set to announce a crackdown that would automatically sting them with a tax on their profits if they sell within five years of buying.
Leader Andrew Little will announce the plan at a speech in New Lynn that is expected to also extend Labour’s 2012 Kiwibuild plan to fund and on-sell 100,000 new houses over 10 years – although its 10,000 houses a year target is unlikely to change.
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