NZ
property promoted as 'an investor's dream'
Watch
video HERE
A
Malaysian radio advertisement targeting Auckland's overheated housing
market is causing outrage on social media.
The
ad, for All Property Solutions Singapore, says New Zealand is very
affordable because there's no stamp duty, no land tax and generally
no capital gains tax.
On
its website a number of central city apartments are listed, which
start at just over $300,000.
New
Zealander Rachael Cooper, living in Malaysia, posted part of the
radio advert on her Facebook page.
"There
are many people investing because of the high demand for rents,"
the advert states. "There's no stamp duty, no land tax, and
within New Zealand, generally no capital gains tax either. It's an
investor's dream."
It
goes on to say that Aucklanders pay around half their week's wages in
rent, and that "could be paid to you".
The
Government is being urged by the Reserve Bank to look at a capital
gains tax to deter investors, but Prime Minister John Key says it
won't work.
Listen to Duncan Garner on RadioLive at 3 pm
Tmrw on @RadioLIVENZ Drive - listen to what I have that clearly shows we are a tax free property haven for foreign investors. From 3pm....
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Bernard Hickey
Auckland apartments being advertised on Malaysian radio. 'No stamp duty, no land tax, and no capital gains tax!' https://soundcloud.com/user697294118/radio-ad-investment-in-nz?hc_location=ufi …
Prime Minister says that capital gains tax won't work but he omits to say at the end " for him and his mates".
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