Budget 2024 income tax cuts and landlord interest deductibility
What it actually does
Budget 2024 delivered income tax relief averaging about $3.7 billion a year and restored the ability of residential landlords to deduct mortgage interest. The government said it funded the package partly through public service savings and cancelling some previous programmes.
Source: 1News · 2024-05
The Trump take
“Tax cuts AND a deal for landlords? I'm a landlord. Many buildings, beautiful buildings. This is the most Trump budget New Zealand has ever had. Maybe ever, anywhere, except mine.”parody
Why it scored this way
Taxes
Broad income tax cuts
+2
Loves it
Deals & property
Restores a tax break for property investors and landlords
+2
Loves it
Big government
Partly paid for with public service cuts
+1
Likes it
On the same topics
Fast-track Approvals Act
Passed in December 2024 along party lines, the Act created a one-stop consenting process for listed infrastructure, housing, mining and energy projects. Final approval decisions sit with expert panels rather than standard resource consent processes.
Fast-track Approvals Act 2024
Creates a one-stop consenting regime for listed infrastructure, housing, energy and mining projects, with expert panels deciding applications and ministers holding a role in referrals. Passed its third reading on 17 December 2024 on coalition votes and received royal assent in December 2024.
Remove the ETS charge from fuel
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