Tax report bad news for property investors - Video

But what about all the small businesses (isn't owning rental property a small business) which, while their company is building an asset base, etc claim losses in Company A against other personal income. The fledgling business might even run at a loss for several years right? If rental incomes losses are to be "ring fenced", wouldn't it be fair if all small business be treated in the same way, or am I missing something here?

For those complaining about GST it may pay to read the whole report that states that there should be no movement in GST.

Landlords: While I aplaud your effort to provide a retirement income for yourself. Property has been a tax haven for years now and needs sorting out. For those landlords who have positive cashflow and made sound bussiness desisions will be unaffected by these changes.
However to claim that you do a service to society is complete nonsense you are a drain raping the younger generation. This is why your children are moving back home.

Spot on Simon. That is the truth and it will transpire cause we the people of NZ are in the habit of electing idiots and clowns to manage the country.