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What is the Bright-Line Property Rule?
The bright-line property rule means that people who sell a residential property might need to pay income tax on any gains.
If you purchased the property on or after 1 October 2015 the bright-line property rule may apply if you sell it
If the property is your family/main home, you inherited the property, or if you’re the executor or administrator of a deceased estate, the bright-line rule does not apply.
If you purchased the property prior to 1 October 2015, the bright-line rule does not apply.
For further information seek legal and financial advice and/or see the IRD website here