New Zealand Consults on Ring-Fencing Rental Losses

On 29 March 2018, New Zealand Inland Revenue published an officials' issue paper seeking feedback on a proposal to ring-fence losses in relation to "residential land" owned by individuals, companies, and trusts. In general, residential land includes land that has a dwelling on it, land for which there is an arrangement to build a dwelling on it, and bare land that may have a dwelling built on it under the relevant operative district plan rules. The purpose of the proposal is to restrict spec…