1348 (2025). Hon Phil Twyford to the Minister of Housing

1348 (2025). Hon Phil Twyford to the Minister of Housing: What is the policy basis of MBIE receiving a share of the interest generated by the RTTA each year?

Hon Chris Bishop: Trust law allows for a trustee of funds to claim the costs of managing those funds against any income generated by the funds. The interest earned from these investments partially funds MBIE’s operations under the Residential Tenancies Act 1986 (RTA). The share of interest transferred to MBIE is spent within the scope of the budget appropriation ‘Residential Tenancy and Unit Title Services’. The scope of the appropriation is “limited to the provision of residential tenancy and unit title dispute resolution services, information, education, advice, and compliance and enforcement activities; administration and investment of residential tenancy bond monies” (Vote Building and Construction 24/25). These functions support information campaigns about tenancy laws, compliance with the law and scheduling dispute resolution.