Listen
The government is being accused of introducing a capital gains tax by stealth as part of its plans to tackle the housing crisis.
In a bid to cool the market, the government is lengthening the time investors can hold onto a property and avoid paying tax under the bright-line test from five to 10 years.
It will also remove the ability of property investors to offset interest expenses against rental income.
Economists agree the measures will cool the market, but some doubt they will lower prices. The Greens say it doesn't address the full crisis, and ACT says the bright-line test is a capital gains tax by another name.
Prime Minister Jacinda Ardern spoke to Susie Ferguson.