News

Shock awaits for tax avoiders

Friday 9th of March 2018

Introduced by the previous government, the bright line test requires income tax to be paid on any gains from residential property sold within two years of acquisition, with some exceptions.

In a bid to dampen property speculation, the government recently introduced legislation into Parliament which aims to extend the bright line test from two years to five.

But a joint IRD-Treas...

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