The Associate Finance Minister says the last Government removing landlords' interest deductibility was a tax grab.

The current Government's re-introducing it.

They'll be able to claim 80 percent of interest expenses from April, and 100 percent from next April.

David Seymour told Mike Hosking that they've restored the integrity of the tax system.

He says if you invest in any business or commercial property, you're allowed to deduct interest costs from taxable income.



LISTEN ABOVE

The Associate Finance Minister says the last Government removing landlords' interest deductibility was a tax grab.
The current Government's re-introducing it.
They'll be able to claim 80 percent of interest expenses from April, and 100 percent from next April.
David Seymour told Mike Hosking that they've restored the integrity of the tax system.
He says if you invest in any business or commercial property, you're allowed to deduct interest costs from taxable income.
 
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

David Seymour: We have restored integrity in the tax system

Pharmac's looking to expand free flu vaccines to the group with the highest rates of influenza. 

The agency's looking at providing jabs to an extra 260 thousand children, between six months and five-years-old, from next year.  

Otago University Public Health Professor Michael Baker told Ryan Bridge a small number in this age range die from influenza every year.  

He says given they often infect other family members, other countries around the world are already funding vaccines for under-fives.  

Baker says vaccines remain the best way to develop immunity. 

LISTEN ABOVE 

Pharmac's looking to expand free flu vaccines to the group with the highest rates of influenza.&nbsp;
The agency's looking at providing jabs to an extra 260 thousand children, between six months and five-years-old, from next year. &nbsp;
Otago University Public Health Professor Michael Baker told Ryan Bridge a small number in this age range die from influenza every year. &nbsp;
He says given they often infect other family members, other countries around the world are already funding vaccines for under-fives. &nbsp;
Baker says vaccines remain the best way to develop immunity.&nbsp;
LISTEN ABOVE&nbsp;

Michael Baker: Otago University Public Health Professor on Pharmac's proposal to expand free flu vaccines

Nicola Willis' Lotto comment yesterday was clumsy, but in the end, much ado about nothing.

The politics of this housing thing are pretty simple. You've got 80,000 social housing tenants who probably weren't going to vote National, who now definitely won't vote National. 

You've got 110,000 better-off voters who might soften to you. You've got a frothy media and opposition who will use this as a stick to beat the Government with until November.

But here are the facts. If you're a voter worried about rent, they're now materially cheaper than they were under the last lot. The average is down $30 a week nationwide, from $660 to $630 in April according to Realestate.co.nz.

They shot up for a couple of reasons, one of which was Labour's landlord-bashing interest deductibility shocker. Which didn't hit mega-slumlords, by the way, it hit mum-and-dad investors, many negatively geared, who couldn't afford to hold on to their retirement nest egg any longer, got hit with new tax and compliance costs, and got out. Shortages help push up prices.

The bad news is Labour's more likely than not to do this again if they get back to the Treasury benches. The social housing waitlist was 25,000 in 2023. It's now 19,700. Labour was paying $1 million a day on motels.

So, let's talk about what's cruel and what's fair, and what motivates these politicians. Let's play "who's more cruel".

Willis and Bishop are changing rules to even the playing field. It's cost neutral. The Government's not saving money here. Hipkins and Co. were banking $1.8 billion in extra taxes that other legitimate businesses weren't having to pay. Just landlords.

In which of these two scenarios are Kiwi renters better off, and in which are they worse off? If there's one thing worse than being cruel to be kind, it's being careless.

Nicola Willis' Lotto comment yesterday was clumsy, but in the end, much ado about nothing.
The politics of this housing thing are pretty simple. You've got 80,000 social housing tenants who probably weren't going to vote National, who now definitely won't vote National.&nbsp;
You've got 110,000 better-off voters who might soften to you. You've got a frothy media and opposition who will use this as a stick to beat the Government with until November.
But here are the facts. If you're a voter worried about rent, they're now materially cheaper than they were under the last lot. The average is down $30 a week nationwide, from $660 to $630 in April according to Realestate.co.nz.
They shot up for a couple of reasons, one of which was Labour's landlord-bashing interest deductibility shocker. Which didn't hit mega-slumlords, by the way, it hit mum-and-dad investors, many negatively geared, who couldn't afford to hold on to their retirement nest egg any longer, got hit with new tax and compliance costs, and got out. Shortages help push up prices.
The bad news is Labour's more likely than not to do this again if they get back to the Treasury benches. The social housing waitlist was 25,000 in 2023. It's now 19,700. Labour was paying $1 million a day on motels.
So, let's talk about what's cruel and what's fair, and what motivates these politicians. Let's play "who's more cruel".
Willis and Bishop are changing rules to even the playing field. It's cost neutral. The Government's not saving money here. Hipkins and Co. were banking $1.8 billion in extra taxes that other legitimate businesses weren't having to pay. Just landlords.
In which of these two scenarios are Kiwi renters better off, and in which are they worse off? If there's one thing worse than being cruel to be kind, it's being careless.

Ryan Bridge: What's cruel versus fair in the social housing debate

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/bdaf7443-4879-437a-821b-b45101841784/transcript

Listen to the Early Edition with Ryan Bridge Full Show Podcast for Friday 22 May.

Get the Early Edition with Ryan Bridge Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

Listen to the Early Edition with Ryan Bridge Full Show Podcast for Friday 22 May. 
Get the Early Edition with Ryan Bridge Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

Full Show Podcast: 22 May 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/fd9491c2-b42a-4a7d-894e-b451012ac480/transcript

David Seymour: We have restored integrity in the tax system

In 1 playlist(s)

Early Edition with Ryan Bridge

Social links

Follow podcast

Recent clips