News & Insights

A jubilant atmosphere filled the air! What an amazing day at the Lexus of North Shore Charity Luncheon on Thursday 11th April. An enthusiastic crowd of 500 gathered to hear from distinguished guest speaker, the RT Hon Christopher Luxon

At Bellingham Wallace, we have a diverse range of clients and services who offer challenging, complex and interesting work. We have a collaborative and supportive atmosphere, where people genuinely care about each other's success.

This week the Government has released draft legislative proposals with respect to limiting the deductibility of interest expense for residential property investments and a number of changes to the bright-line rules. This proposal is the Government’s attempt to make residential properties a less attractive investment option and to help level the playing field for first home buyers.

Today the Prime Minister announced a huge package of policies aimed at increasing housing affordability that includes changes to the bright-line test and interest deductions on investment property.

Last night, I read through the 194-page interim report from The Tax Working Group (TWG), which is a culmination of months of work reviewing submissions. Having given the report the sleep test overnight, here are my first impressions. The report claims it is for a national conversation about tax. If this is true, it appears to be a one-sided conversation. The interim suggestions are anything but taxpayer friendly, nor do they promote or support business growth and regional investment, which future-proofs New Zealand in so many regards.