National promises to reinstate tax deductibility on rentals
The National Party plans to reinstate tax deductibility on rental properties if it wins the general election in October this year. This is one of the changes the party intends to implement to address inflation and support economic growth. Currently, tax deductibility on interest expenses for residential rental properties purchased before March 27, 2021, is being phased out and will no longer apply from April 1, 2025. Properties purchased on or after March 27, 2021, do not have access to interest deductibility, except for new builds. National leader, Christopher Luxon, confirmed the party’s intention to restore interest deductibility on rental properties to promote housing and growth across New Zealand. For more information, please open the link below.