The government has confirmed that new builds and off-plan properties will be exempt from the upcoming tax changes for residential property investors. Therefore mortgage interest will likely continue to be deductible as a tax expense, and these properties will also be exempt from the extension of the bright-line test.
New build apartments and terrace homes also often have lower LVR requirements and potentially lower interest rates.
To read a full analysis of all these benefits CLICK HERE.
RISLAND MEADOWBANK APARTMENTS
COMPLETION EXPECTED Q1 2024
OIA EXEMPTION APPLIED FOR – Invest only
International development company Risland latest project is 77 apartments and 13 Terrace Homes adjacent to Meadowbank Village, stores & shopping centre. Parks, playgrounds & Oraki basin reserve are nearby. Zoned for popular Meadowbank School and Selwyn College and easy access to public transport and motorways. Pet friendly, secure covored car parks, bike racks and central courtyard feature in this community-minded development which is perfect for those wanting to be close to the CBD, families or downsizers wanting a safe and welcoming place to live. Due to popularity, I would suggest early enquiry.
| 2 bed apartments | From $960,000 |
| 3 bed apartments | From $2,750,000 |
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