Our hearts go out to our NZ neighbors across the ditch, hammered again by nature at it’s worst, god bless you all. We complain here in Australia about property prices and low capital gains, interest rates and returns on our investments, but what if our property portfolio was not only devalued but written off!
Many families in NZ, hard workers who have raised children and paid off large mortgages now find that their properties are severely devalued or in some cases worthless, how devastating! This was the case in Christchurch only a few years ago in 2011 and now they are hit again, what a tragedy.
a blog written by, James Hannah Tax Depreciation Specialist.