New Zealand is one of the few countries where a comprehensive capital gains tax system doesn’t exist. That said, there are a range of rules on our statute books that do tax land sales. Probably, the most commonly known test is what’s referred to as the the ‘bright-line test’. This is interesting, because despite being widely known, the bright-line test sits behind all the other tests…
Browsing CategoryTax
PAYING TAX ON RESIDENTIAL LAND SALES AND THE IMPORTANCE OF CAREFUL COUNTING
Paying Tax on Residential Land Sales and the Importance of Careful Counting Most New Zealanders are aware if they acquire and dispose of land within a certain period of time, tax may be payable to Inland Revenue. The tax, commonly referred to as ‘Brightline Tax’ was introduced via the Brightline rules by the National Government in October 2015 as an attempt to ensure property speculators…
PROPERTY INVESTORS GOOD NEWS
Property Investors Good News It’s no secret – Labour was not fan of those involved in property. Extension of the Brightline period, loss of interest tax deductibility and changes to tenancy laws were favoured policies of the Red Team that negatively affected property investors and tenants alike. That story is changing now we are led by a National Government. Indeed, National campaigned on several property policies…