News
Budget bad news for property speculators
Friday 18th of May 2007
Finance Minister Michael Cullen’s eighth Budget includes an extra $14.6 million for the IRD in what has been named “the property audit strategy”.“While there is no political consensus on any major remedial measures I am mindful of the fact that under the current law investing in housing for the purpose of making a capital gain, that is trading in housing, is tax...
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