![]() The new Auckland apartment building Kōkihi was delivered ahead of schedule and an example of how to do great development, she said. ![]() Projects by Ockham, which sponsors New Zealand's annual book awards, were in July described by Woods as "exemplary". The Herald has reported how Woods is seeking policy advice about encouraging the build to rent market. "We know this sector has potential to meet gaps in our rental market and further advice will be taken to Cabinet in the next few weeks on whether there should be an extension beyond the 20 year period for some or all of this sector," Woods and Parker said in response. "The Government has recently confirmed that new builds are exempt from the new interest deductibility rules to encourage new supply including new purpose-built rentals," their joint statement in response to Todd said. "I may be forced to sell 85 rental places worth $60 million to $80m if interest which is the main cost of owning these buildings becomes non-deductible," said Todd referring to apartments the company owns in Sandringham, Grey Lynn, Ellerslie and Mt Albert.īut Parker and Woods reiterated how changes did not affect new builds. "It is odd that Megan Woods supports the BTR sector to provide more new, warm, secure tenure properties but Parker is happy to kill off providers already delivering on Government policy," Todd complained. Mark Todd, co-founder of Ockham Residential, said the changes announced by Finance Minister Grant Robertson and Revenue Minister David Parker did not recognise that the build to rent sector already existed. Video / Mark MitchellĪn Auckland developer says he may be forced to sell 85 city apartments due to tax changes axing interest cost deductibility on loans for existing or built residential property investments. Revenue Minister David Parker outlining details of the policy limiting the deductibility of interest costs on residential property investments.
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