Team TvA
IRD: Tools for selling property
Inland Revenue’s focusing on property 🏘️, in particular those who frequently buy and sell property and making sure people are complying with the tax rules.
With this in mind IRD are encouraging people to check out their updated property tax decision tool.
This tool helps to work out whether the sale of a property is taxable under any of the land taxing rules, including the bright-line test. You can find this tool on their website, it takes approximately 7 minutes to complete. The outcomes link to resources and can be printed out.
The bright-line test can be confusing with many factors to work out, such as determining those start and end dates. If you need to talk over your property sale or purchase, get in touch with us.
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