Sunday Rant…. Labour intend to ring fence property losses to future property income. This will send thousands of investors broke fast. Take investors tax refunds away, property values crash. This is well documented overseas. Sweden property values dropped 35% when they ring fenced losses and the following govt reversed the policy, with values immediately there after recovering. Accountants would get a mountain of pre change planning work and we would have years of work to do. While lots of New Zealanders will go broke with ring fenced losses and inolvency revenue will grow to. I’m not going to sit by and have to charge my[...]
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