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.
AUGUSTUS PARK PARNELL
CONSTRUCTION STARTED COMPLETION EXPECTED Q4 2023
OIA EXEMPTION APPLIES – Invest only
Augustus Park is one of the latest developments by trusted NZ developers and family owned business Safari Group. An unbeatable location, Double Grammar school zones, an in house café & restaurant and in house gym. Apartments have heat pumps, curtains and appliances. A number of purchaser offerings are available.
| Studio apartments | From $465,000 |
| 1 bed apartments | From $701,000 |
| 1 bed plus study | From $766,000 |
| 2 bed apartments | From $1,550,000 |
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