Wonder if they have extrapolated the fiscal impact as rentals reach break even with a massive tax credit. Or how trust and company ownership structures will avoid the ringfencing by tax effective distributions. Or what the impact will be on rents when landlords have to reach even further into their own pockets every week.
Little unveiled the latest plank in Labour's housing policy at the party's election year Congress in Wellington today.
He said Labour will:
• Ring-fence losses on rental properties so they can no longer be used for tax breaks on other income. It will mean losses can only be applied to income from housing.
• Use the estimated $150 million in increased taxes for $2000 grants toward insulation and heating.
• Negative gearing will be phased out over five years.
Little unveiled the latest plank in Labour's housing policy at the party's election year Congress in Wellington today.
He said Labour will:
• Ring-fence losses on rental properties so they can no longer be used for tax breaks on other income. It will mean losses can only be applied to income from housing.
• Use the estimated $150 million in increased taxes for $2000 grants toward insulation and heating.
• Negative gearing will be phased out over five years.
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