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More roadblocks to ringfencing?

Tuesday, April 16, 2019

IMG CREDIT: UNSPLASH

This week's question comes from Tania (paraphrased):  

Now that submissions have closed for ring-fencing, what happens next? Is there anything else investors can do to stop it from becoming law? 
 
Andrew King from the New Zealand Property Investors' Federation kindly replies below: 

Public submissions on ring-fencing have closed, so our opportunity to have input into the matter has officially ended.  That said, the NZPIF has met with NZ First recently to reiterate our position against the proposal. The Select Committee is due to make their report to Government soon. The Bill will then be presented to Parliament for its second reading and debate between MP's. After that, a final draft will be produced and it will be brought back to Parliament to be voted on. If it passes, it will become law and will apply for the tax year ended 31 March 2020.

We continue to encourage investors to become members of their local Property Investors' Association in order to support the important advocacy work the NZPIF carries out on behalf of all landlords. 

Do you have any tenancy related questions? Write to us at [email protected] or hit us up on our social channels here and here

 


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