NZPIF backs Productivity Commission tax findings
"The Commission saying that the tax advantages attached to housing are not as large as often claimed backs up what we have been saying for many years and further backs up comments by the Society of Accountants and even the IRD," said NZPIF president Andrew King.
King said the NZPIF agreed with the commission that "whether to adopt a capital gains tax on housing should be based on a coherent set of principles that have general application, not just to housing."
The NZPIF also said the Commission's report echoed their own report to the Tax Working Group that rejected ring-fencing losses on residential investments from other taxable income.
However, the NZPIF is concerned with the Commission's recommendation on low income housing and its claim that the private sector does not have a place in this segment.
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