The Business Advisory Blog

The Business Advisory Blog

Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents. Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

Greg Millar
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Interest deductibility on property investments is 60% this year

At the time of writing, the coalition government has agreed to speed up the return of interest deductibility for property investors, with the phased-in changes taking effect in the current financial year.

As a result, legislation is expected to be passed allowing you to deduct 60% of your interest expenses on property investments in the year to 31 March 2024.

Deductibility will rise to 80% of interest costs in the 2024-2025 financial year, with a return to 100% deductibility in 2025-2026.

Have a chat with us to ensure you’ve accounted for 60% deductibility this tax year.

Need property investment tax assistance? Contact Alliott NZ's team of Chartered Accountants and Business Advisors in Auckland on 09 520 9200.

Topics: deductions expenditure Interest Property Investment tax planning