I'm not sure we'll see any in the short - medium term. But its something I'll have to look at more closely.

Initial thoughts though.

The governement and city councils are substantial land and residential property holders. Any tax increases are likely to impact on the tax payer to fund central and local governemtn obligations.

Maori have considerabe land holdings (and getting bigger with treaty settlements). National (and later Labour) are unliky to do anything that impacts on the Special Peoples pockets. If you are looking for evidence look at how forests were handled as part of the ETS negotiations.

Politicians have considerable personal holdings in property. Even the Greens hold rentals in trust for their MP's superannuation. We might like to think that there is no self interest with our politicians behaviour - but that would be naive and wrong.

Politicians also rely on their electotate to vote them back in. Most of the electorate either owns property or has a desire to own property - this desire is still fuelled by Governement policy. A government is unlikely to implement change at the risk of loosing votes.

Anything that impacts the return on rental property has to be closely looked at. Allready, IMO, the return is pretty dubious. The governemnt is unlikely to do anything that will increase the costs of owning a rental for fear of people quitting rentals or not putting any money into them - leading to squalor for renters.

Capital Gains Tax and deprecition on Rentals are two easy things to look at. But IRD already has the power to look at the depreciation claimed aganst the sale value achieved - though it seems perhaps they don't have the resources to look at this in much detail. But it is, again IMO, clearly a rort.