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How a land tax works

NZ NewswireNZ Newswire 25/04/2016

HOW A LAND TAX ON FOREIGN BUYERS WOULD WORK

* It would be imposed on foreigners who buy residential property or land in NZ

* It would be charged annually

* It would be charged as a percentage of the value of the property

* It's considered a stronger deterrent than a one-off stamp duty on foreigners

* The government wants to know the scale of the problem before making any decisions

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