In the recent budget the government announced that they are introducing a capital gains tax coming into effect in October, for properties that are sold within two years of being purchased. It is important to understand these changes will not impact your main family home and will only impact properties purchased on or after these changes come into effect.

The changes are designed to ensure tax payers who are buying properties with the intention to sell at a gain within a short space of time are paying their share of tax. In their current form these changes do not impact on long term buy and hold rental property investment. IRD plan to use extra revenue generated from these to target the property tax area.

Posted 15/06/2015

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