27 mars 2021 - Brightline tax extended to ten years

Description:

The bright-line test – an effective capital gains tax on investment property – will be extended from five to 10 years, meaning profits from the sale of property within 10 years of buying it could be hit with a tax of up to 39 per cent.


The old five-year rule will stay in place for any new builds.

Source:
https://www.stuff.co.nz/national/politics/300259389/housing-government-to-double-brightline-test-and-end-interest-writeoff-in-war-on-property-speculation-will-spend-38b-on-new-supply.

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