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Selling a residential property? The brightline rule is changing!

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A reminder that from July 1, 2024, the New Zealand bright-line rule is changing back to 2 years.

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Are you thinking of buying or selling a rental property? It pays to be aware of the bright-line rules and determine if they will apply to you—especially if you are considering selling your property BEFORE July 1, 2024.

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What does this mean for property owners?

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- If you sell a 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.

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- If you sell a property BEFORE 1 July 2024, the current bright-line rules will still apply, and these can vary depending on when you brought the property.

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If you would like to discuss this further or have any questions about how this may affect you, please don’t hesitate to contact one of our helpful team members.

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