Government announces further details of tax changes for some landlords
29 September 2021
Earlier this year, the Government announced that from 1 October 2021 property investors can no longer fully deduct interest costs against the income they make from renting out a property.
Property development activities and some specific property types, including new builds, are exempt from this change and will continue to be allowed to deduct interest.
The Government on 28 September 2021 released the draft legislation outlining these rules. It will be considered by the Finance and Expenditure Select Committee, and submissions from the public will be called for and considered.
For more information see:
- Inland Revenue’s information sheets on the proposed rules(external link)
- The Government's press release(external link)
- The Ministry of Housing and Urban Development’s news article(external link)
