Check if you have to pay tax on a property you have bought and resold at a profit
Read the question and case study example below and select the link that matches your answer.
Family home
| Answer "Yes" or "No" to this question | ||
|---|---|---|
| Was the house mainly used as your family or private home? |
|
|
Case study example
Moana buys a property with the intention of providing a home for herself and her children. When she eventually sells it she hopes to make a gain and leave her children with a legacy.
In a year's time she gets a new job and decides to sell the property to move closer to her new job. Property prices have risen, so Moana gains from the sale and can buy a bigger home.
In this case, Moana's intention was always to use this house to provide a home for her family.
< Go back to 'House or dwelling on the property'
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 Jul 2010
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