NZPIF have created a petition on the parliament website to delay the implementation of ring-fencing of rental property tax losses.
The petition urges the Government to delay by at least a year implementing the portion of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act that relates to ring-fencing of residential rental property tax losses.
In light of the economic challenges of COVID-19 and higher requirements for landlords to wear rent arrears (from 21 days to 60 days) with no right to terminate a tenancy, we ask that Parliament asks the Government to consider delaying the ring-fencing of residential rental property tax losses by at least a year to give landlords the breathing space we need to support our tenants through these challenging times.
At a time when many property owners to working with tenants and lower rents in some situations, or perhaps writing off large amounts of rent altogether, this makes complete sense.
The Petition is open now and closes on 31st May.
Please click here to sign the Petition
The petition urges the Government to delay by at least a year implementing the portion of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act that relates to ring-fencing of residential rental property tax losses.
In light of the economic challenges of COVID-19 and higher requirements for landlords to wear rent arrears (from 21 days to 60 days) with no right to terminate a tenancy, we ask that Parliament asks the Government to consider delaying the ring-fencing of residential rental property tax losses by at least a year to give landlords the breathing space we need to support our tenants through these challenging times.
At a time when many property owners to working with tenants and lower rents in some situations, or perhaps writing off large amounts of rent altogether, this makes complete sense.
The Petition is open now and closes on 31st May.
Please click here to sign the Petition
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