Interest Deductibility Calculator NZ
How much rental mortgage interest is deductible by tax year.
NZ$
Deductible @ 100%
$22,000.00
$0.00 non-deductible
| Total interest paid | $22,000.00 |
|---|---|
| Deductible portion | $22,000.00 |
| Non-deductible portion | $0.00 |
| Deductible % | 100% |
About this calculator
Mortgage interest deductibility on residential rentals was phased out from 1 October 2021 (100% → 75% → 50% → 25%) and then restored in two steps (80% from 1 Apr 2024, 100% from 1 Apr 2025). New builds and properties bought before 27 March 2021 were exempt and could always deduct.
- 2022 tax year: transitional, mostly 100% with apportionment.
- 2023 tax year: 75% deductible.
- 2024 tax year: 50% deductible.
- 2025 tax year: 80% deductible (1 Apr 2024 onwards).
- 2026 tax year onwards: 100% deductible.
Frequently asked questions
Does this apply to commercial property?
No — the phase-out applied only to residential rentals. Commercial property always allowed full interest deduction.
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Calculator NZ provides general information only. For decisions with significant financial, medical or legal consequence please consult a qualified professional.