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 🏠
Poll: Would you want an unconventional funeral?
Funerals can cost as much as $22,000 and the planning can be stressful especially at a time when loved ones are grieving. Some New Zealanders are re-imagining funerals by making their own coffin or having a relaxed ceremony at home. Would you want a less traditional funeral? Share your thoughts below.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
-
84.1% Yes
-
13.9% No
-
1.9% Other - I'll share below!
ANNOUNCEMENT: adviceHQ Takes Up The Reins, Craig Pettit Retires
After nearly five decades of dedicated service in the banking industry, Craig Pettit has decided to embark on a well-deserved retirement. Craig and his wife Cindy are now shifting their focus towards travel and spending quality time with family.
As the saying goes, "as one door closes, another one opens." After careful consideration, Craig has chosen to entrust his clients to adviceHQ to ensure they continue to receive high quality service with a strong emphasis on values.
"After 15 fulfilling years as a mortgage adviser (and previously 34 years with Westpac), I believe it's time to pass the torch to another capable mortgage adviser. Allow me to introduce David Green from adviceHQ, based in Takapuna. With 25 years of invaluable experience in the financial sector, David's professionalism, personable nature, and expertise in finance, insurance, and KiwiSaver make him an excellent fit to guide you through your financial journey."
We are also pleased to have James Pettit continuing with the business as Client Manager.
We would like to welcome Craig’s valued clients to the adviceHQ family. We will continue to provide the same independent and personalised advice on mortgages you have come to trust. Now with the additional support from adviceHQ, we can also offer independent financial advice on Insurance, KiwiSaver, Business and Commercial Finance.
Feel free to reach out to adviceHQ for independent financial advice.
#adviceHQ #mortgages #insurance #KiwiSaver #businessfinance #commercialfinance
Term 2 Basketball Academy Underway!
Hi everyone!
We are underway this week with an awesome new schedule for Term 2, offering more opportunities to train than ever before. There are sessions running 7 days a week and these are open for all ages from 8yrs through to adult, from beginners through to pros. If you would like more information, or to come down and try a session for free, please don't hesitate to contact us:
Phone: 0800 HOOP33 (4667 33)
Email: assist@hoop33.co.nz
Website: www.hoop33.co.nz...
Loading…
