Abolish the bright line test for tax on property sales
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Housing in NZ is among the least affordable in the world, despite a recent fall in house prices. Pressure is now growing from property investors and homeowners to allow the housing market to heat up again. While all the major parties say more needs to be done to ensure everyone has affordable housing, there are major differences in how they propose to go about it. Should the state take the lead in building more houses, or loosen the rules to encourage private investors?
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Abolish the bright line test for tax on property sales
Replace the Building Act with compulsory building insurance
Abolish the Progressive Home Ownership Scheme and the First Home Grant
Introduce tax on foreign house buyers and local buyers with three or more properties
Restrict land banking
Relax building material regulations
Revert the bright-line test for tax on property sales to two years
Allow interest deductibility on loans for rental properties
Pay councils for consenting additional houses
Introduce a papakainga planning standard
Continue fund for building and upgrading infrastructure
Build 6000 more public houses with improved accessibility
Introduce a tax on urban residential land
Require a 100 percent deposit for properties purchased for investment purposes
Create a $3 billion fund for social housing
Limit rent increases to three percent or less per year
Introduce a landlord register
Build 35,000 new public houses over five years
Tax undeveloped land
Introduce tax on vacant houses
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