With increases in the average house price increasing by 22.8 per cent from February 2020 to February 2021, the Government have introduced changes to the “bright-line test” in a bid to take the heat out of the residential property market. The changes look to discourage investors buying multiple properties and on-selling them for a healthy profit without paying tax on such profit.
The ‘Wellbeing Budget’ announced yesterday may have arrived in a pretty fancy looking folder, but the shine could be wearing off for small business owners.
On Thursday, Finance Minister Grant Robertson alighted on the steps of Parliament brandishing a glossy looking folder embossed with a map of New Zealand.
Nick Roberts from myob.com produced this opinion piece.
For small and medium businesses still struggling with border restrictions and high levels of uncertainty, what Robertson has dubbed the ‘Wellbeing Budget’ appears to overlook this economic powerhouse in favour of welfare benefits. Let’s take a look at some of the notable key measures and see how they stack up.