When you buy a house on or after 29 March 2018, there are special rules about whether you need to pay tax if you sell it. These rules are called the “main home exclusion for bright-line”. However, this part of the law is going to change. From 1 July 2024, these specific rules won’t apply anymore. The government is making changes to the tax laws, and this section will be removed. If you want to know more about how this might affect you, you should look at the new rules that will replace this section.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS478299.
CZ 39: Disposal within 5 years: bright-line test for residential land: acquisition on or after 29 March 2018, or
“Selling homes bought after 29 March 2018 within 5 years: old tax rule ending 1 July 2024”
CZ 41: Distributions to supplying shareholders of Fonterra: 2022–23 to 2024–25 income years, or
“ Tax rules for money Fonterra gives to its supplying shareholders from 2022 to 2025 ”
