Opinion

Your investments in the hands of politicians

Friday, October 24th 2008

This year’s election is a critical one for property investors as whoever forms the next government will change the rules around investing.

If National is elected it is likely to remove some of the less landlord-friendly parts from the review of the Residential Tenancies Act which is due to go to a select committee next year.  It is understood that the party’s housing spokesman has already given undertakings to key groups in the property investment sector.

Also it is likely to address issues to do with utility charges, such as water. The NZPIF has lobbied for water charges, to be billed in the same way as other utilities. In the past landlords, particularly in Auckland have had difficulties with water rates.

While both the big parties, Labour and National, have said they are against capital gains tax on property investment, it could be forced onto the agenda in post-election coalition building process.
Both the Green Party and the Maori Party have advocated some sort of capital gains tax.

A Labour-led government may be forced to look at these issues if it forms a government and that it could conceivably include it in its proposed December mini-budget to pay for its election promises.
Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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