Check if you have to pay tax on a property you have bought and resold at a profit
Definition
Property means land (including a bare section), buildings and rights or options, eg for "off the plan" properties. Please note that the ownership structure of the property doesn't matter. Whether it's owned by an individual, a trust, an LTC or a LAQC - the rules are still the same.
Instructions
Use these questions to work out if you should pay tax on the property you sell.
The maximum number of questions we will ask you is 4.
Read each question (and any case study examples where provided) and select the link that matches your answer.
We recommend you talk to your tax advisor.
House or other dwelling on the property
| Answer "Yes" or "No" to this question | ||
|---|---|---|
| Was there a house or other dwelling on the property when you sold it? |
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Find out more
Read the IR313 guide to find out what you need to know about your tax obligations when buying and selling residential property.
Date published: 30 Mar 2011
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