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Landlord Tax Exemption for New Builds Announced

An exemption to the new tax rules for landlords has been announced by Revenue Minister David Parker.

Landlords who own a new build that was contracted after 27th March 2020 will be able to deduct the interest costs of the mortgage from their tax bill for the first 20 years.

This 20-year period applies to the property not the owner, meaning if the property is sold during that first 20-year period, the tax exemption transfers to the new owner for the remainder of the 20-year period.

Excellent news worth celebrating. Over recent months we've already noticed a surge of investors purchasing new builds as investment properties, and now this is an added incentive for investors to continue expanding their portfolio with new builds.

Thinking about growing your portfolio? We've put together a guide that will help you confidently invest in off-the-plan properties, avoid the risks, and successfully grow your investment portfolio.

If you're considering Property Management get in touch with us today. Locally owned and managed, we offer residential property management services across the entire Wellington & Hutt Valley region.

Quinovic Johnsonville | Wellington

Call Jordan Atkinson - 027 297 0873

Quinovic Hutt Valley | Wellington

Call Helen Vance - 027 487 8103

Quinovic Kent Terrace | Wellington

Call Jordan Atkinson - 027 297 0873

Quinovic Wellington Property Managers


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