National appalled govt can't estimate impact of property inv

National appalled govt can't estimate impact of property investment tax change


Andrew Bayly says the tax take will rise at the expense of mum-and-dad investors.
The National Party is accusing the government of saying little about changes to the tax regime on investment property because they are simply a “tax grab”.
This week National’s shadow treasurer Andrew Bayly questioned Revenue Minister David Parker in Parliament about how much more tax the government would gather as a result of removing the ability of property investors to deduct their mortgage interest payments for tax purposes.
In response, Parker said neither the Reserve Bank nor Inland Revenue collected data on the number of people who deducted interest from their rental income from residential premises. But he had seen

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