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Interest Deductibility and New Builds - does the Draft Legislation Stack Up?
On 28 September 2021, the Government released their draft legislation for amendments to interest deductibility legislation and how new builds will be treated for bright-line tax purposes.
Limited guidance on Interest limitation rules
On 10 June the Government released their discussion document “Design of the interest limitation rule and additional bright-line rules”. The discussion document provides details on the proposed interest limitation and bright-line rules, following the 23 March 2021 announcements.
The Family Home Can Still Attract Bright-line Tax
“Our target is not the family home. ” Whilst that might be true, it is not entirely the result achieved. If you’re selling your main home, you don’t have to pay tax on the sale.
The Bright-Line Test and Main Home Exemption – What You Need To Know
On 23 March, the Government passed their amendments to the residential-property bright-line test under urgency, and without consultation via a Supplementary Order Paper (SOP).
Property Investors Hit Hard by Tax Reforms
The Government has announced huge tax reforms. These tax reforms are attempting to grapple with the housing crisis, and tip the balance of power in the market towards first home buyers and long-term investors.
Tax Deductibility and Healthy Homes standards
In mid-August, Inland Revenue released Questions we’ve been asked QB20/01 Can owners of existing residential rental properties claim deductions for costs incurred to meet Healthy Homes standards? Owners of residential rental properties are required to meet certain minimum standards which…