Tax changes would slash house prices
The Government’s Tax Working Group is currently working on its interim report into possible changes to New Zealand’s tax laws and whether some of those changes could impact on house prices.
While the TWG’s final recommendations are not due until next February, it is widely considered that the introduction of a capital gains tax is likely to be one of the recommendations.
Given the perception that property investors have tax advantages, there is a high likelihood that the TWG will recommend other tax changes directed at property investors.
Now Westpac has released an analysis of whether various property tax changes would have an impact on house prices – and its conclusion is a resounding “yes”.
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