In this episode, we discuss the government's recent announcement that the Bright Line Tests is about to get tougher. Any capital gains you make on a property will be taxable unless you hold the property for 10 years, rather than the previous 5 years.
This will impact NZ property investors around the country. But, it will also be felt by homeowners who temporarily rent out their home e.g. because they move away for work. If these homeowners sell before the 10 year period is up, they will pay a pro rate amount of tax based on how long the property was a rental for.
We also mention that because of these changes we are introducing a new service where Andrew will review investors portfolios to help them decide what changes to make (if any). Read more about the property portfolio review here.
The Property Academy Podcast