CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. IMF Proposes Property Tax Tweaks For New Zealand

IMF Proposes Property Tax Tweaks For New Zealand

by Mary Swire, Tax-News.com, Hong Kong

10 May 2017


New Zealand could further improve its tax system by introducing new housing-related charges, the International Monetary Fund (IMF) says.

As part of its annual consultation with New Zealand, the IMF recommended that further housing-related tax measures, such as broader taxation of capital gains from real estate, could be considered to reduce incentives for leveraged real estate investments by households.

It said: "Such measures could help redirect savings to other, potentially more productive investments and thereby support deeper capital markets."

But New Zealand authorities were reluctant to consider any more housing-related tax changes, given that the country implemented reforms to its tax rules for property transactions in October 2015. The IMF noted that the Government said it would lower individual income tax "when conditions permit." It said: "The Government is committed to a broad-based, low-rate tax system that has low compliance and administrative costs, and biases economic decisions as little as possible, including on investment in different classes of assets."

TAGS: capital gains tax (CGT) | compliance | tax | investment | property tax | capital markets | real-estate | International Monetary Fund (IMF) | New Zealand | tax reform

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »