Tax proposals target landlords - NZPIF
The Labour Party celebrated its centenary over the weekend by announcing a flagship housing policy which is intended to tackle the housing crisis on both supply and demand fronts.
In his speech, party leader Andrew Little said Labour has a comprehensive plan to tackle the housing crisis by building affordable houses and cracking down on speculators.
The three main elements of Labour’s policy are:
• The creation of an Affordable Housing Authority which is intended to cut through red tape to deliver large-scale master-planned communities.
• Government construction of 100,000 new affordable homes for first home buyers, with 50% of those houses in Auckland.
• A tax on speculators by extending the bright line test to five years, on top of a ban on non-resident foreign speculators buying existing houses.
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