In less than a fortnight a new “brightline test” to tax gains from residential property sold within two years of purchase will be put into legislation. This will be the case for all homes sold from now on unless it is the seller’s main home, inherited or transferred in a relationship property settlement.
Check it out below:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11450259
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11476198
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