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Luci Ellis: Westpac Group Chief Economist compares economic outlooks, unpacks whether NZ will become Australia's tax haven
Description
The chief economist of one of the largest banks across the Tasman is quashing talk of New Zealand becoming Australia's tax haven.
A recent Australian newspaper declared the country's recent capital gains tax changes had lifted our appeal to local property investors due to our lack of capital gains, stamp duty, or land tax.
Westpac Group's Luci Ellis told Heather du Plessis-Allan there won't be as many concessions for new purchases of existing homes for rent, but negative gearing is still an option on new builds.
She says while some Aussies might find a New Zealand property attractive, if what they're motivated by is the tax concessions, they can still buy a new build in Australia.
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