Tax aid proposed for home finance
PA Tauranga Tax benefits should be introduced to make investment in home finance attractive, says the president of the Real Estate Institute, Mr Bill Matthewson, of Tauranga. This would enable investors to hand on mortgages at a lower rate, but recoup to the level of other investments, he said. The scheme should be tuned so that home owners were paying no more than 25 to 30 per cent of their incomes for mortgages. “We now have some home owners paying 50, 60, even up to 70 per cent of their weekly wages on mortgage repayments,” said Mr Matthewson. “The rise of interest rates to present levels has left many home owners overcommitted. Either they cannot meet their commitments or they find extra work.” Mr Matthewson said the Housing Corporation was able to change interest rates in cases of proved hardship. The institute believed for a long time after the Government freed interest rates that they would settle.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19850803.2.68
Bibliographic details
Press, 3 August 1985, Page 8
Word Count
163Tax aid proposed for home finance Press, 3 August 1985, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in