Home mortgage rebate law ‘narrow’
Parliamentary reporter Refugees who had lost homes in their own country were not entitled to receive a mortgage interest rebate for their first New Zealand home, the Associate Minister of Finance, Mr Falloon, has told Parliament. . In to a question by Mr T. K. Burke (Lab., West Coast), Mr Falloon said the legislation was very narrow. . To qualify. for the first home mortgage rebate, neither the taxpayer nor his spouse could have previously owned a home or had an
interest in a home in New Zealand or overseas. That t included any home, whether ’ it had been confiscated by an > overseas government, des- • troyed, or had been subI standard. Refugee families were ; treated in the same way as New Zealand families. New Zealanders who had lost their homes in floods or for ’ health reasons were not entitled to the mortgage rebate either, said Mr Falloon. t It was not practical to , give the Commissioner of ; Inland Revenue the power to r allow the rebate in special i circumstances, he said. ' |
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Press, 25 November 1982, Page 16
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175Home mortgage rebate law ‘narrow’ Press, 25 November 1982, Page 16
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