Coalition Government Delays Interest Deductability Phase-In
The Government has announced that interest deductibility on residential investment properties will be phased back in starting from April 2024. This means that affected taxpayers will now be able to claim 80% of their interest expenses from April 2024, with the deduction set to return to 100% from April 2025.
This decision backtracks on the coalition agreement, which initially proposed 60% deductibility from April 2023.
Associate Finance Minister David Seymour stated, “Landlords have been hit hard by rising mortgage interest rates and increasing interest deductibility limitations, especially during these times of economic strain. These costs often get transferred to tenants, contributing to the soaring rental prices in New Zealand.”
In light of this policy shift, should we be wondering if the Brightline changes will be "amended"?
It is worth noting that changes to banks' servicing tests are expected, which could have a significant impact on property investment financing.
For independent financial advice tailored to your family or business, reach out to adviceHQ.
#InterestRates #MortgageRates #nzpropertyinvestor #advicehq 🏠
Worst Xmas ever?
There's a a lot of planning that goes into Christmas day and sometimes things just don't go to plan. But it can be a good thing - a family mishap or hilarious memory that you can laugh about in Christmases to come.
Whether you burnt the dinner or were stranded at an airport...
Share your Christmas mishaps below!
✨ Last day in the office for the adviceHQ team! ✨
As we wrap up another big year, we want to take a moment to thank our clients, colleagues, and partners for your continued trust and support.
Wishing you all a joyful holiday season, safe travels, and a fantastic start to 2025.
#advicehq #thrivein25
Loading…
