Latest / The Kākā by Bernard Hickey
Wednesday’s Chorus: Tax cuts for mega-landlords to average $1.3m. Each.
TL;DR: National’s tax switch plan creates a direct wealth transfer from beneficiaries to landlords totalling $2 billion over four years, CTU analysis out this morning finds, including mega-landlords with over 200 rentals each getting $1.3m. Each.
The proposed tax switch of changing interest deductibility rules and reducing the bright line test for capital gains from rental property trading in exchange for moving indexation for beneficiaries from wages to prices will see $464 million in tax benefits go to 346 landlords with over 200 rentals each, while 350,000 people on benefits will each…
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