The Kākā by Bernard Hickey
Deep doubt over National's foreign buyer tax

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Deep doubt over National's foreign buyer tax

Challenges mount to National's $2.96b foreign buyers' tax estimate; National got trade law check on tax after announcing it; Shelly Bay's 700 homes evaporate; Labour's dental plan examined
A boom for inner Auckland homes? Willis says the number of sales over $2 million and the share of foreign buyers that National is basing its revenue projections on are realistic. Photo: Lynn Grieveson / The Kākā

TL;DR: Pressure is mounting on National to justify its projected $2.96 billion of revenues from its foreign buyers’ tax, given tax lawyers and economists doubt the legal status of the tax and a required surge in foreign buying to collect that amount, which funds a fifth of National’s tax cuts.

Also, Labour has again rejected a move to free basic dental care for everyone, saying it can’t be afforded, even though Treasury has calculated over $1.60 in Government cost savings for every $1 spent on the policy and over $4 in public benefits for each dollar.

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Over a fifth of National’s tax-cutting plan in serious doubt

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