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Where are 500,000 tourists going to live?

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  • Where are 500,000 tourists going to live?

    It makes you wonder how NZ will house the additional 10% increase in our population. We need the tourists in hospitality but where are they going to live?

    This lady is a Kiwi and has a home in Invercargill. Thought it would be a good idea to buy a crepe-making business in Queenstown - to capitalise on the return of tourists - only to find it impossible to get accommodation.

    Living out of her car for 18 months - how many others are doing it too?

    LLs are switching to AirBnB - and it will take some time to get their rentals back - if at all.


    cheers,

    Donna
    Danna Burton says she's not alone in her struggle to find a home in Queenstown, with some "leaving town broken" as the area's housing crisis continues.
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  • #2
    Isn't air B&B tax deductible interest?
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    • #3
      IRD not saying? See this on what type of property mortgage interest is deductible.
      Certain properties listed in Schedule 15 of the Income Tax Act 2007 are unaffected by the interest limitation rules.
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      • #4
        Originally posted by Keys View Post
        Isn't air B&B tax deductible interest?
        I started a thread on exactly this the other day, interested on any answers..

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        • #5
          So student accommodation is exempt and you can still claim interest deductions. So in theory I can turf everyone out and rent to students and claim 100 percent interest? Surely not.

          Sorry just read the fine print “This does not include a landlord who leases their residential rental property to students privately.” Might be a way around that though
          Last edited by Engineer; 25-01-2023, 10:14 PM.

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          • #6
            I wonder how far you could push the dual purpose exclusion. For example rent out the dwelling as a business premises/ rental accommodation and at least get a percentage mortgage interest deduction? Only take on “work from home” tenants. A question for accountants.

            This is retarded.

            Gst implications?
            Last edited by Engineer; 25-01-2023, 10:38 PM.

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            • #7
              At the end of the day the new tax laws introduced by the government are so incredibly stupid that it’s no wonder people are finding it difficult to get a place to rent. Once the oversupply of housing in some parts of the country from the low interest rate building gold rush is taken up, it’s going to get a lot worse. Unless of course the rules are scrapped.

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