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 🏠
What's your favourite recipe for courgettes?
Kia ora neighbours. If you've got a family recipe for courgettes, we'd love to see it and maybe publish it in our magazine. Send your recipe to mailbox@nzgardener.co.nz, and if we use it in the mag, you will receive a free copy of our January 2025 issue.
Live Q&A: Garden maintenance with Crewcut
This Wednesday, we are having another Neighbourly Q&A session. This time with John Bracewell from Crewcut.
John Bracewell, former Black Caps coach turned Franchisee Development Manager and currently the face of Crewcut’s #Movember campaign, knows a thing or two about keeping the grass looking sharp—whether it’s on a cricket pitch or in your backyard!
As a seasoned Crewcut franchisee, John is excited to answer your lawn and gardening questions. After years of perfecting the greens on the field, he's ready to share tips on how to knock your garden out of the park. Let's just say he’s as passionate about lush lawns as he is about a good game of cricket!
John is happy to answer questions about lawn mowing, tree/hedge trimming, tidying your garden, ride on mowing, you name it! He'll be online on Wednesday, 27th of November to answer them all.
Share your question below now ⬇️
Poll: Should all neighbours have to contribute to improvements?
An Auckland court has ruled a woman doesn’t have to contribute towards the cost of fixing a driveway she shares with 10 neighbours.
When thinking about fences, driveways or tree felling, for example, do you think all neighbours should have to pay if the improvements directly benefit them?
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82.1% Yes
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15.1% No
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2.7% Other - I'll share below
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