Propertyscouts Auckland

The ‘bite’ in the bright-line test - 1st Aug 2018

The ‘bite’ in the bright-line test

On 29 March 2018 the bright-line test applying to profits gained following the sale of a rental property was extended from two to five years.  An IRD assessment of the voluntary compliance with the bright-line test from its inception in 2015 revealed less than 50% compliance.  Not surprisingly, the IRD take a dim view on tax avoidance and a spokesperson was recently quoted as saying that IRD would take every action available against people who deliberately avoid their tax obligations.

Brought to you for information purposes by our Rental Property Management company Propertyscouts Auckland

« Back to News
site powered by - Turboweb :: Simple Web Manager