King counters taxing solution to misdiagnosed problem

In the NZPIF submission to the Productivity Commission inquiry into housing affordability King sets out to, "refute the view that the actions of residential property investors have caused housing to be unaffordable, and to address the over-emphasis by some on one policy measure - namely tax - as a means of achieving housing affordability."

In the submission King argues that the role of private landlords in providing accommodation choices for New Zealanders is overlooked, and that it is simply untrue that property investment receives favourable tax treatment.

"KiwiSaver gets millions of taxpayer money to support it, and we have had exactly the opposite," he said.

"Tax depreciation wiped and we've had LAQCs wiped, we've been hit and they've been supported and people still want a capital gains tax, it’s ludicrous."