NZ Property News: The New Bright-line Test Changes Explained
- Nick Dwan
- Jul 1, 2024
- 1 min read
From 1 July 2024 the Bright-line property rule is changing.
Here’s a brief explanation of the rule and what’s changing.
If you sell an investment property on or after 1 July 2024 the bright-line property rule will only apply if the property is sold within 2 years of purchasing it. This timeframe has been reduced from the original 5 and 10 year periods.
If the property is sold within the 2 year period from date of purchase, any profits will be subject to tax which is calculated by subtracting the purchase price and allowable costs from the selling price.
If you have any questions about the Bright-line changes and your market opportunities, call or message Nick for an obligation free chat.
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