- New Zealand tax system used to reduce investor demand for residential property
- Government implementing promises to reverse tax changes affecting residential property
- Interest deductibility on residential rental properties changed
- Changes to interest deduction rules phased in over time
- Ability to claim interest deductions on residential rental properties restored to 80% from 1 April 2024
- Changes apply from 1 April 2024 and 1 April 2025
- Certain taxpayers and properties not subject to interest limitation rules
- Interest limitation rules to be repealed from 1 April 2025
- Residential ringfencing rules limiting deductions for residential rental properties to rental income still in place.
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "New Zealand"
- New Zealand Inland Revenue Clarifies GST Liability and Penalties on Property Disposal for Partnerships
- GST Ruling: Commercial Dwelling Status and Input Tax Deductions for Accommodation Supply
- New Zealand Inland Revenue Seeks Feedback on Updated Shortfall Penalties Guidance by October 31
- New Zealand Mandates Electronic Invoicing for Public Agencies by 2026
- 2025 GST Reform: What’s Changing in New Zealand’s Tax Law
