Letters: Property investors, private health patients, Pharmac and democracy
25 Feb, 2021 04:00 PM
8 minutes to read
To address the housing issue Parliament has the mandate to make firm decisions, writes Scotty Yates. Photo / File
NZ Herald
All benefits to property investors Murray Higgs (NZ Herald, February 24) highlighted how unjust it is that property investors claim interest as a tax deductible item. Those struggling to own and live in their own home can t claim the tax deduction. They service the mortgage with already taxed income.
Yet another benefit to a property investor is their ability to borrow. They offer banks multiple security with the number of tenanted homes. Easy to buy yet another property. But a private home owner may only be able to offer the security of servicing the interest by two incomes. Then the issue if one contributor s income is threatened. Perhaps pregnancy or illness. The ability to service the mortgage is halved and access to a