Refine that - Rentier businesses making money off property ownership (real estate, shares, lending money) #deductibility ends at $10m total wealth of the ultimate owner.
(As I've said before, trust busting is easy peasy - same as withholding tax - the maximum rate, until proved otherwise.)
#nzpol
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The ELECTED Ardern Govt in 2021 removed #deductibility AND increased landlords/speculators #CGT.
See www.beehive.govt.nz/release/govt...
THE REASON: to remove (part) of the advantages of landlords/investors over HOME BUYERS.
(CGT was opposed. Robertson, Parker wanted WEALTH tax.)
#nzpol
