Tax experts speak out

But, as most property investors know, that is not really the case.

The so-called Auckland property crisis has given rise to inaccurate and uninformed comment which has blighted the public's perception of property investment, tax expert Mark Withers said.

Tired of hearing the same old line that somehow property has special tax advantages over everything else, Withers and some of his fellow experts have spoken out to NZ Property Investor magazine.

Together they dispel the tax myths surrounding property investment, covering such things as depreciation rules and the soon-to-be introduced "bright line" test in the process.

Withers believes the amount of undeclared taxable income from those buying and selling shares with an intention to sell them for profit would dwarf that in the property sector - and yet they get no focus whatsoever.

"The whipping boy is always property yet there isn't anything providing property an advantage."

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