31 Aug 2023

Real Estate boss on National's plan to fund tax cuts through levy on foreign buyers

From Morning Report, 7:21 am on 31 August 2023

The National Party plans to fund a large chunk of its newly announced tax plan through a levy on foreign buyers.

Offshore purchase of houses worth more than $2 million would have a 15 percent tax added, which National says could raise up to $740 million dollars a year.

There's been a ban on foreign buyers since 2018, put in place by the Labour Party to cool the housing market.

Barfoot & Thompson managing director Peter Thompson spoke to Ingrid Hipkiss.