$33,000,000 a week.
And still Luxon and Willis ( + Seymour and Winny) want to subsidies house investors even more.
2 yr brightline test. And cancels Robertson's and labours only good law, the non deduction of tax write off for mortgage interest. To be repealed alas. Allows investors an ADVANTAGE over earning taxpayers fk.
No, I don’t ask because it’s not a subsidy. Owning investment properties is a business just like any other. Interest paid on borrowings to run the business is a legitimate tax deductible expense allowing business owners to keep more of their hard earned money to invest and produce more tax for the government. The previous government’s non-deduction of mortgage interest law (brightline test) was unfair and had the immediate effect of landlords selling up rental properties and investing their money elsewhere. Repealing it was the right thing to do. The number of investment properties owned by ministers is not relevant unless you’re accusing them of using the law for their own interests, which would be silly on the basis of the small number of properties owned and the fact that neither of them have demonstrated immoral behaviour.
Labour can get stuffed and God willing be consigned to the pits of hell.
I don't know their situation but I can comment on others that I know.
People I know have taken the risk to invest in property with all its ups and downs. They took the risk to have tenants for good or bad. - When bad it's the landlord that generally loses out.
These people are the ones that look after the property. Spend their time maintaining it as theres not enough funds coming in to always just call in a tradie.
Just to get things in perspective, the big big money makers are developers NOT the landlords that carry the weight of mortgages, maintenance, tenants, new tenancy/housing rules always coming in,
Their risk, that they took, with their money, their time, their stress and their borrowing is at the mercy of the housing market.
Give them a break for goodness sake?
Eh?????