PKF Carr & Stanton, Hastings, New Zealand
24 Mar 2021
The Government have announced a range of measures addressing the supply and demand for residential properties. The three main announcements are:
For more information see the Government's media statement and fact sheets on the bright-line test and interest deductions. We summarise key points below.1) Increase in bright-line test from five years to 10 years effective from 27 March 2021
Fact Sheet: Bright-line Test 2) Changes to the treatment of times when a property is not the owner's main home:
Fact Sheet: Bright-line Test 3) Intention to remove interest deduction on residential properties
Fact Sheet: Interest Deductions on Residential Property Income If you are unsure how these changes affect you or would like some clarification, please contact us on 06 876 8124 for more information. In the meantime, we will continue to keep you updated. Article kindly supplied by Susan Robertson, Director, PKF Kendons
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