Adopt fairer regulation and tax settings
We believe a tax system can be fair while also encouraging smart investment that funds our cities.
Regulation, policies and taxes can either enable or stifle growth. Unreasonable regulation and poorly designed tax systems cost the property sector hundreds of millions a year.
These include restrictions on much-needed new investment, an inequitable approach to funding the fire service and ongoing uncertainty around depreciation for non-residential buildings. We want to see fairer regulation and policies alongside a tax system that encourages smarter investment to fund, build and maintain our cities.
Topics include:
- Overseas investment
- Fire and Emergency New Zealand funding
- Depreciation for buildings.
Recommendations
- Amend the Overseas Investment Act to create a robust and resilient investment environment that attracts much-needed overseas investment.
- Re-design the funding model for FENZ, to ensure all sectors are contributing a fair and equitable portion of the cost of delivering this critical service.
- Continue depreciation for non-residential (commercial and industrial) buildings and extend it to Build to Rent.
Member taskforce
The FENZ Funding Taskforce aims to redesign how the current fire service is funded, requesting a move towards a more fit-for-purpose funding scheme.
Property Council is honoured to work with members from across the property spectrum on this important issue, including:
- Trevor Wairepo, Kiwi Property
- Jonathan Simpson, Goodman
- Emma Bourke, Mainland Capital
- Erica Chapman-Oliver, Gibbons
- Anton Shead, Goodman
- Melissa Hodd, Foodstuffs North Island
- David Snelling, Argosy
- Brady Cosgrove, Cosgroves Ltd
- Olga Druzhinina, Development Advisory Services Limited
- Sarah Beale, PFI
Contact
For further information or to get involved, contact:
Katherine Wilson
Head of Advocacy
katherine@propertynz.co.nz
