Tax changes to savings in 1989 helped drive housing crisis, economist says
Tax changes nearly 30 years ago reduced distortion between savings vehicles – but widened distortion between housing and other forms of investment
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A shortage of new houses might lie at the heart of New Zealand’s house problems – but don’t discount tax reasons.
Economist Andrew Coleman, in a lengthy analysis of changes to the tax system, says changes as long ago as 1989 have had a lingering effect.
Dr Coleman, an economist at Otago
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