Mortgage Tax Deductions and Fuel Excise Tax w/ National’s James Meager: 12th March, 2024

In our weekly interview with National’s James Meager, wire host Castor talked about the government’s mortgage tax deduction policy and fuel excise tax. The mortgage tax reduction policy allows landlords to claim tax deductions on interest from mortgages on their properties. 

Notably, these tax deductions can increase to up to 100% of the mortgage interest rate, and will not apply to those who own one home. 

Additionally, a week before this interview, Transport Minister Simeon Brown unveiled the government’s transport policy. While not technically introducing a fuel tax, the government does plan to increase the excise tax on fuel, which in practical terms does mean you will be taxed more on the fuel you buy. The policy has been met with controversy, especially given promises during the election campaign to not introduce a fuel tax. Castor discussed this issue with James Meager and how the decision may be seen as hypocritical.