Warwick Bringans News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Letters: Tax-deductible mortgages, Kumeu development, vaccine priorities and Trelise Cooper
15 Dec, 2020 04:00 PM
9 minutes to read
To assist young first home buyers, should their mortgage interest be deductible against tax payable on wages? Photo / File
To assist young first home buyers, should their mortgage interest be deductible against tax payable on wages? Photo / File
NZ Herald
Flipping the housing paradox
If my granddaughter purchased a home to live in she would have to pay all mortgage interest, insurance, rates, plus repairs and maintenance costs out of her tax-paid earnings with no
tax write-offs. Yet as a investor, under current tax laws I can purchase a home, rent it to her at a market rent then claim the mortgage interest plus all the above-listed outgoings as tax-deductible expenses against this rent, thus showing no profit or tax payable. Thanks to a past multimillionaire Prime Minister cancelling gift duty, I can ....

Hawke Bay , New Zealand General , New Zealand , United States , Sunny Hills , Western Australia , Herne Bay , Blackburn With Darwen , United Kingdom , Chris Blenkinsopp , Mike Schmidt , Neville Cameron , Glenn Forsyth , Susan Lawrence , Poto William , Derek Smith , Trelise Cooper , Maxj Carr , Prime Minister , Russell Hoban , Warwick Bringans , Curtis Barnes , Cam Calder , Kathleen Hawkins , John Werry , Wendy Baker ,