Economists analysing National's foreign buyers tax have found it would likely raise $210 million a year - falling well short of the $740m a year National expects to rake in.

When the details of this policy were released, it really didn’t pass the sniff test. It seemed to rely on a huge increase in foreign buyers, above pre-ban levels, and ignored any potential reduction in sales due to the tax itself.

  • Xcf456@lemmy.nz
    41·
    1 year ago

    Just to add to this, the 2.5% applies to wealth after the first $2 million, and at $4 million for couples.

    • Rangelus@lemmy.nzOP
      5·
      1 year ago

      Thanks, I thought that was the case but couldn’t find it mentioned so left it out.

      Honestly such a great policy…