The property market is New Zealand’s largest industry, adding NZ$41.2 billion a year to gross domestic product. But there is a debate over how we tax houses – particularly those sitting empty despite the ongoing housing crisis.
Housing affordability is a concern for both renters and home owners. Last year, one in four rental households spent more than 40% of their disposable income on housing costs, compared with one in five households that were paying a mortgage.
A comprehensive capital gains tax has been ruled out by both major political parties.
