If we're taxing imputed rent, then I guess the owner-occupier would be considered a kind of non-incorporated business. Does that mean that owner-occupiers could also claim certain residential expenses (repairs, depreciation, etc) against this income, in the same way a business does? If so, I think this would sweeten the deal for many people. Please clarify.
Official response from Gareth Morgan
there are two ways you could apply the tax - tax the whole value of the asset and make interest deductible, or tax the equity only and don’t. The second is simpler.
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