Truth about NZ’s ‘failed’ negative gearing experiment
Truth about NZ’s ‘failed’ negative gearing experiment
#economy #australia #newzealand
Critics of Treasurer Jim Chalmers’ move to abolish negative gearing are pointing to a failed four-year “experiment” in New Zealand as proof that the policy will skyrocket rents.
But an expert says the often-cited link between removing negative gearing and rising rents has been “debunked,” with immigration the more crucial factor in driving expensive rental markets.
From 1 July 2027, negative gearing for residential property will be limited to new builds only, with investors no longer able to offset annual rental losses against their personal income.
The change revealed in this week’s federal budget – a broken promise after Anthony Albanese had ruled out changes to negative gearing in his 2025 election campaign – is aimed at improving “intergenerational equity” and helping young Australians to get on the property ladder.
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