Labour finally sees sense on interest deductibility

The Taxpayers’ Union is welcoming Chris Hipkins’ confirmation that Labour will leave interest deductibility for rental properties alone.

Taxpayers’ Union spokeswoman, Ella Dickson, said:

“Labour’s decision to deny landlords a deduction for a legitimate cost of providing rental property distorted the tax system from the start.

“When the rules were reversed, we said landlords should be able to deduct legitimate costs just like other businesses. Better late than never, Labour has finally seen sense and put this argument to bed.”